Champion Cooling Co. signed an exclusive contract with a scrap metal dealer that is willing to pay 15 cents a pound for scrap copper. If the cost of goods sold reported by Champion amounts to $150,000 and the scrap cost is equal to $15,000 for their 2000 pounds of scrap copper, what is Champion's scrap efficiency?

Note that Champion Cooling Co. computes their scrap rate to be the scrap cost less the amount it receives from the scrap metal dealer.

PLEASE SHOW ME ALL THE STEPS AND BE CLEAR AND SIMPLE AND NEAT AS POSSIBLE THANK YOU