DeWitt Company sells a kitchen set for $320. To promote July 4, DeWitt ran the following advertisement:

Question

Beginning each hour up to 4 hours we will mark down the kitchen set 8%. At the end of each hour, we will mark up the set 3%.


Assume Ingrid Swenson buys the set 1 hour 30 minutes into the sale.

a. What will Ingrid pay? (Round your answer to the nearest cent.)

Ingrid pays $

b. What is the markdown percent? (Enter your response as a percentage rounded to two decimal places.)

Markdown percent %