Unit operating expenses for an item costing $30 are estimated at 40% of cost, and the desired operating profit is 25% of cost. a. Determine the selling price. (Do not round intermediate calculations and round your final answer to 2 decimal places.) Selling price $ b. Determine the rate of markup on cost. (Do not round intermediate calculations and round your final answer to 1 decimal place.) Markup on cost % c. Determine the rate of markup on selling price. (Do not round intermediate calculations and round your final answer to 1 decimal place.) Markup on selling price %