Kumar produces large decorative tiles used in home decor. The tiles sell for $700 and the fixed monthly operating costs are as follows: Rent and utilities Management salaries Other expenses $1,100 2,600 490 Kumar's accountant told him about contribution margin ratios and he understood clearly that for every dollar of sales, $0.60 went to cover his fixed costs, and that anything past that point was pure profit. Kumar is planning to increase the selling price to $760. What impact will the increase in selling price have on the contribution margin ratio? O A. It will stay the same. O B. It will go up from 60% to 63%. C. It will go down from 69% to 63%. 0 D. It will go up from 60% to 69%