Given the Following Information,what Initial Markup Percentage Should Be Planned

question 95

Multiple Choice

Given the following information,what initial markup percentage should be planned if net sales are expected to be $500,000?
$\begin{array} { ll } \text { Operating expenses}&\$120,000\\ \text { Net profit goal}&\$30,000\\ \text {Planned reductions for markdowns }&\$320,000\\ \text { Planned reductions for theft/shortage/discount}&\$8,000\\ \text { Alteration costs}&\$10,000\\ \text {Cash discounts received by the retailer }&\$5,000\\\end{array}$