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Company A, the number-two auto insurer with $13 billion in revenue last year, spent $0.9 billion on advertising that year and plans to continue spending

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Company A, the number-two auto insurer with $13 billion in revenue last year, spent $0.9 billion on advertising that year and plans to continue spending the same percentage of sales on advertising next year. The average advertising-to-sales ratio for the insurance industry is 0.2 percent of sales. If Company A projects $16 billion in sales next year, using the percentage-of-sales method of advertising budgeting, how much will the company budget for advertising if basing it on projected sales? The ads atio for the last year is (Round to four decimal places.)

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