The Bow Shop caters to archery enthusiasts. It sells bows starting at $300. The maintained markup used by the store is 60 percent. Reductions are estimated to be 12 percent. Calculate the store's planned initial markup percentage.
A. 48 percent
B. 64.29 percent
C. 60 percent
D. 72 percent
E. 55.55 percent
Answer: B
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