A department store paid ‹$37.91 for a dinner plate set. overhead expense is 8 % of the regular selling price and profit is 26 % of the regular selling price. during a clearance‹ sale, the set was sold at a markdown of 31 %. what was the operating profit or loss on the‹ sale?
a) $11.74
b) $7.25
c) $9.48
d) $14.62