Selling Price after a 45.11% Profit Margin is applied to an item that Cost $37

Given: Cost = $37,  Profit Margin = 45.11%
Profit Margin as a Decimal: 45.11% = 0.4511
Formula:
Selling Price =  

Cost/ 1 – Profit Margin as a Decimal

Selling Price =  

$37/ 1 – 0.4511

Selling Price =  

$37/ 0.5489

Selling Price = $67.41
Notes:
Profit = Selling Price – Cost = $67.41 – $37 = $30.41
Markup Amount = Profit = $30.41
Markup Percentage =  

Markup Amount/ Cost

=  

$30.41/ $37

= 0.8219 = 82.19%