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Kelsay Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (8,800 units) Variable expenses

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Kelsay Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range. Sales (8,800 units) Variable expenses Contribution margin Fixed expenses Net operating income $589, eee 402,000 178,000 173,500 $ 4,500 43 The contribution margin ratio is closest to: Multiple Choice 307 O 30% 25.0%

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