Cougar Industries is building a new assembly plant. Cougar projects sales of 50,000 units per year at a selling price of $20 per unit. The estimated annual costs of operating the new assembly plant include manufacturing costs of $475,000, 40% of which are fixed costs, and selling and administrative expenses of $350,000, 30% of which are fixed costs. What is the contribution margin ratio for Cougar's new assembly plant? 53% 66% 45% 047% None of the above