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A firm reported a contribution margin equal to 45% of revenues and profit before taxes equal to 20% of revenues. If fixed costs were $100,000,
A firm reported a contribution margin equal to 45% of revenues and profit before taxes equal to 20% of revenues. If fixed costs were $100,000, what were the firm's revenues?
a) $500,000
b) $400,000
c) $222,222
d) $153,846
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