At the outdoor market, Craig Wang sells string beans for $1.99 a pound. The beans cost $0.89 a pound to grow. What is the markup rate based on cost, to the nearest tenth of a percent?

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1. At the outdoor market, Craig Wang sells string beans for $1.99 a pound. The beans cost $0.89 a pound to grow. What is the markup rate based on cost, to the nearest tenth of a percent?