hand towels that cost 26 was sold at 34 each.what is the retail merchant margin? what is the percent of the cost is the margin?

I'm used to some different terminology, but I believe the "retail merchant margin" is the same thing as the percent "mark-up" on the price.' This is given by.....

(Sales Price - Cost) / (Sales Price)  = (34 - 26)/34 = about 23.6%

And the margin on the cost is - I believe -  the same thing as the percent "mark-up" on the cost...this is given by....

(Sales Price - Cost) / (Cost) = (34 - 26)/26 = about 30.8%