Marco Purchased a High-End Stove for $5,267 Less 53% and 18

Multiple Choice

Marco purchased a high-end stove for $5,267 less 53% and 18%. The overhead rate is 30% of the regular selling price of $3,080. Unfortunately, the stove was dented in his store, so it had to be resold at a loss. During a midnight madness sale, Marco sold the stove for $2,618.Determine the rate of mark-down on the regular selling price.

A) 15.64%
B) 17.42%
C) 15.00%
D) 29 .62%
E) 30.76%