Selling Price after a 65% Markup is applied to an item that Cost $12

Given: Cost = $12,  Markup = 65%
Markup as a Decimal: 65% = 0.65
Formula:
Selling Price = Cost * (1 + Markup as a Decimal)
Selling Price = $12 * (1 + 0.65)
Selling Price = $12 * 1.65
Selling Price = $19.80
Notes:
Markup Amount = Selling Price – Cost = $19.80 – $12 = $7.80
Profit = Markup Amount = $7.80
Profit Margin =   =   = 0.3939 = 39.39%