You can buy a mountain bike on sale for only \( \$ 592.97 \). What is the percent markdown, if the original price was \( \$ 689.50 \) ? (Round to the nearest whole percent.) Select one:

To determine the percent markdown on the mountain bike, follow these steps: 1. **Calculate the Difference in Price:** \[ \text{Difference} = \text{Original Price} - \text{Sale Price} = \$689.50 - \$592.97 = \$96.53 \] 2. **Calculate the Percent Markdown:** \[ \text{Percent Markdown} = \left( \frac{\text{Difference}}{\text{Original Price}} \right) \times 100\% = \left( \frac{96.53}{689.50} \right) \times 100\% \] 3. **Perform the Division:** \[ \frac{96.53}{689.50} \approx 0.14 \] 4. **Convert to Percentage:** \[ 0.14 \times 100\% = 14\% \] **Rounded to the nearest whole percent, the percent markdown is **14%**.