Tots N Style Pty Ltd has the following data concerning a decorator playpen it manufactures:
If the company uses cost-plus pricing based on total variable costs,determine the mark-up percentage used by the company to obtain a price of $105. 
Definitions:
Annual Dividend
The total dividend payment a shareholder receives from a company in one year.
Debt-Equity Ratio
A gauge illustrating the mix between shareholder equity and debt in a company’s asset-financing strategy.
Weighted Average Cost of Capital
A calculation of a firm's cost of capital in which each category of capital is proportionately weighted, reflecting the expected cost of all available funding sources.
Weight of Preferred Stock
The proportion of preferred stock in a company’s capital structure, used in calculating the cost of capital or investment risk.
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