The anticipated retail price of a stationary bike is $195 and the initial markup is 56 percent. Calculate the merchandise cost.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 5E
Question
The anticipated retail price of a stationary bike is $195 and the initial markup is 56 percent. Calculate the merchandise cost.
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