Maritime Cellular Purchases a BlackBerry Smart-Phone Model for $395 Less

Short Answer

Maritime Cellular purchases a BlackBerry smart-phone model for $395 less trade discounts of 20% and 10%. Maritime's overhead expenses are $59 per unit.
a) What should be the selling price to generate a profit of $40 per phone?
b) What is the rate of markup on cost?
c) What is the rate of markup on selling price?
d) What would be the break-even selling price for the Annual Clear-Out Sale?