Hey can someone review my math and see if i did it correctly? The math question is: Choose one product from your business and determine the markup and gross profit for it. Assume that the retail price of the product is $85, the cost is $47, and the expenses are $13. Then using the same figures and product, compute a new sale price using the formula for markdowns, assuming a 15 percent discount. In each of these calculations you must show all of your work and properly label each number amount by its correct name. For example, "$47 cost"

Question

Now, I don't know if they wanted me to make up my own prices or use theres so tell me if im right or wrong.

I did:

85 product + 47 cost 13 expenses
85p - 47c = 38 markup/ gross profit

Markdowns
85p x .15d = 12.75d
85p - 12.75 = 72.25 sale price

Answer 1

72.25 is what I get.