Swoosh Co. is a shoe manufacturer and has developed a new athletic shoe, which costs $30 to produce. Swoosh sells these shoes to retailers (which in turn sell to consumers). If Swoosh marks the shoes up using a 45% “markup on cost”, at what price does it sell the shoes to retailers?
And, if retailers then apply a 45% “markup on retail” (or, “markup on price”), at what price does it sell the shoes to consumers?
Show your work.
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