Answer:
$39.45, about 31%
Explanation:
You want to know the markdown represented by a sale price of $88.54 on a regular price of $127.99.
Markdown
The dollar amount of the markdown is ...
88.54 -127.99 = -39.45
The price was marked down $39.45.
The percentage markdown from the original price is ...
-39.45/127.99 × 100% ≈ -30.823% ≈ -31%
The original price was marked down about 31% to get the sale price.
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Additional comment
The negative price change means the price was marked down. If the change were positive, it would signify a markup.