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A clothing store buys shorts for $24 less 40% for buying over 50 pairs, and less a further 16 2/3%for buying last year's style. The shorts are marked up to cover overhead expenses of 25% of cost and a profit of 33 1/3% of cost.
a) What is the regular selling price of the shorts (assume they buy more than 50 pairs and last year's style)?
b) What is the maximum amount of markdown to break-even?
c) What is the rate of markdown if the shorts are sold at the break-even price?
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