text: a furniture store uses a markup rate of 60%.? the store sells solid oak curio cabinets for $1074.  find the cost of the curio cabinet.  use the formula s = c + rc, where s is the selling price, c is the cost, and r is the markup rate. s = c +rc  s = (1+r)c  1074 = (1 + .6)c  1074 = 1.6c  c = 671.25