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Muggs Co . includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes

Muggs Co. includes one coupon in each bag of dog food it sells. In return for eight coupons, customers receive a leash. The leashes cost Muggs $4 each. Muggs estimates that 45 percent of the coupons will be redeemed. Data for 2025 and 2026 are as follows:
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