According to the given data we have the following:
ring cost=$6,929.00
selling price=$13,858.00
In order to calculate the markup rate we would have to calculate the following formula:
markup rate=(selling price- cost)/(cost))*100
markup rate=($13,858.00-$6,929.00)/($6,929.00))
markup rate=100%
The markup rate is 100%
