Fine's Furniture pays the manufacturer $200 for a reclining chair. They set a retail price to cover overhead expenses of 22% of cost plus profit. If they sell the chair for $399 what is their rate of profit expressed as a percentage of cost?
A) 28.4%
B) 38.8%
C) 99.5%
D) 49.9%
E) 77.5%
Correct Answer:
Verified
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