A merchant marks his goods up by 40% and then offers a discount of 10% on the marked price. What % profit does the merchant make after the discount?
Select the correct option:  A) 8 %  B) 14 %  C) 26 %  D) 15 %  E) 17 %

Rationale: "let the price be 100 . the price becomes 140 after a 40 % markup . now a discount of 10 % on 126 . profit = 126 - 100 26 % answer c"
Answer: C