A loan officer at a bank calls an appraiser's office ( 8 minutes for each participant on the call) and requests appraisal for a home that is under contract. The request is not acted upon for 11 hours ( $50 per hour). The appraiser visits the site (one hour), conducts a search for comparable sales (three hours), and writes up the appraisal (two hours) before transmitting the information back to the loan officer ( 3 minutes for each perse on the phone). The loan officer makes $75 per hour, and the appraiser makes $125 per hour. What is the percentage of non-value-added time in this example? a. 37% b. 63% c. 97% d. 3% A loan officer at a bank calls an appraiser's office ( 8 minutes for each participant on the call) and requests appraisal for a home that is under contract. The request is not acted upon for 11 hours ( $50 per hour). The appraiser visits the site (one hour), conducts a search for comparable sales (three hours), and writes up the appraisal (two hours) before transmitting the information back to the loan officer ( 3 minutes for each perse on the phone). The loan officer makes $75 per hour, and the appraiser makes $125 per hour. What is the percentage of non-value-added time in this example? a. 37% b. 63% c. 97% d. 3%