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A manufacturing company produces and sells 40,000 buckets. At this level of activity, variable costs total $80,000 and fixed costs total $120,000. If each bucket

A manufacturing company produces and sells 40,000 buckets. At this level of activity, variable costs total $80,000 and fixed costs total $120,000. If each bucket is sold for $8, what markup percentage is the company using?

A. 60%

B. 160%

C. 75%

D. 133%

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