Rolf's Golf store sells golf balls for 27 per dozen. The store's overhead expenses are 28% of cost and the owners require a profit of 22% of cost.   a. How much does Rolf's Golf store buy the golf balls for?   b. What is the price needed to cover all the costs and expenses?   c. What is the highest rate of markdown at which the store will still break even?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Rolf's Golf store sells golf balls for 27 per dozen. The store's overhead expenses are 28% of cost and the owners require a profit of 22% of cost.
 
a. How much does Rolf's Golf store buy the golf balls for?
 
b. What is the price needed to cover all the costs and expenses?
 
c. What is the highest rate of markdown at which the store will still break even?
 
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