The retail price of the shoes is $98.91.
The Markup of the shoes is $ 25.64
The provided table indicates that the price of a pair of shoes is $73.27 and the markup percentage is 35%. To determine the retail price, we need to calculate the markup amount and add it to the item price.
First, we convert the markup percentage to a decimal by dividing it by 100. 35% is equivalent to 35 ÷ 100 = 0.35.
Next, we calculate the markup amount by multiplying the item price by the markup percentage in decimal form.
Markup = Item Price × Markup % = $73.27 × 0.35 = $25.64
Finally, we add the markup amount to the item price to determine the retail price.
Retail Price = Item Price + Markup = $73.27 + $25.64 = $98.91