Markup: 47.06%
Revenue/Price: $588.24
Gross Profit: $188.24
________________________________________________________
The difference between the cost of producing a product C and the selling price or revenue R is the gross profit P.
R - C = P
To calculate revenue R based on cost C and desired gross margin G (in decimal notation), use the following formula:
/ R = C ( 1 - G)
The gross profit dollars P are calculated by multiplying the selling revenue dollars R by the gross margin percentage G, where G is expressed in decimal form:
R * G = P
In decimal notation, the markup % M equals gross profit P divided by cost C.
The decimal will be converted to a percentage using M = P/ C M * 100.
________________________________________________________
Since there is no answer choices this is the best I can do for you, have a good day!