Best Buy is selling an ultra-high-definition flat-screen LED TV (36") for $599.98 (retail list price). The cost to Best Buy was $280 per TV. A newer model has come out on the market, so Best Buy is marking down the TVs to move them out of the store and make room for the new TVs. After a series of markdowns, the TV is ultimately being sold for $399.98. What was the maintained markup percentage on this item? (Note: No need to include the percentage sign. Round to two decimal points. Format of answer should be = .xx)

Best Buy is selling an ultra-high-definition flat-screen LED TV (36") for $599.98 (retail list price). The cost to Best Buy was $280 per TV. A newer model has come out on the market, so Best Buy is marking down the TVs to move them out of the store and make room for the new TVs. After a series of markdowns, the TV is ultimately being sold for $399.98. What was the maintained markup percentage on this item? (Note: No need to include the percentage sign. Round to two decimal points. Format of answer should be = .xx)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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