Give correct answer with correct calculation The markup on a new diamond ring should be 25%based on the selling price. If the seller paid $4,525.00for one, then how much should it be sold for toachieve the desired markup?a. $6,033.33b. $4,550.00c. $5,756.25d. $5,000.00

Step 1: Introduction to the Percentage MarkupIn accounting and finance, the percentage markup is the…

Answered: The markup on a new diamond ring should…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 9EB: If you invest $15,000 today, how much will you have in (for further instructions on future value in...

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The markup on a new diamond ring should be 25% based on the selling price. If the seller paid $4,525.00 for one, then how much should it be sold for to achieve the desired markup? a. $6,033.33 b. $4,550.00 c. $5,756.25 d. $5,000.00