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Determine the markup percent for jamie restaurant

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Question - To set up a new restaurant, Jamie has to obtain a bank loan of $200,000. Jamie requires a 25% rate of return and has estimated that the restaurant will provide 20,000 meals during the year with an average cost of $20. Jamie also estimated that selling and administrative (S&A) expenses would be $26,000. Determine the markup percent for Jamie's restaurant.

Reference no: EM133173234

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