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Problem 1: Bluegreen's most popular product has a variable cost of $43.56. On Bluegreen's income statement the cost of goods sold per unit is $40.29. If Bluegreen's markup percentage on variable cost is 25% and its gross margin is 26%, what is the selling price of this product?
Group of answer choices
Option 1: $54.45
Option 2: $58.08
Option 3: $58.86
Option 4: $53.72
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