To find out how much Kylie will pay for the sweater that is on sale for 85% of its regular price, we start with the regular price of the sweater, which is $47.60.
First, we calculate 85% of the regular price:
\[ \text{Sale Price} = \text{Regular Price} \times \text{Sale Percentage} \]
\[ \text{Sale Price} = 47.60 \times 0.85 \]
Now, we perform the multiplication:
\[ \text{Sale Price} = 47.60 \times 0.85 = 40.46 \]
Thus, the amount Kylie will pay for the sweater is:
\[ \boxed{40.46} \]
So, Kylie will pay $40.46 for the sweater.