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To find the percentage of the markdown, we need to calculate the difference between the original price and the sale price.
The markdown amount is $375 - $295 = $<<375-295=80>>80.
To find the percentage of the markdown, we divide the markdown amount by the original price and multiply by 100.
Percentage markdown = ($80 / $375) x 100 = 21.33%.
Therefore, the markdown is approximately 21.33% of the original price.