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Cola Company is offering its preferred customers a 25% discount on its most popular product normally listed at $40 each.

a) What is the net price of each product to Cola Company's preferred customers? For full marks your answer(s) should be rounded to the nearest cent.

b) SouthCo also sells the same product but with a list price of $59. What rate of discount should SouthCo give to match Cola Company's price to its preferred customers? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56%

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