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What is the equivalent rate of percent markup on cost

Misu Sheet, owner of the Bedspread Shop, knows his customers will pay no more than $110 for a comforter. Misu Sheet wants to advertise the comforter as "percent markup on cost."

What is the equivalent rate of percent markup on cost compared to the 20% markup on selling price? (Round your answer to the nearest hundredth percent.)

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Cost Accounting: What is the equivalent rate of percent markup on cost

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Cost Accounting: What is the equivalent rate of percent markup on cost

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