Phoenix was a professional classical guitar player until a motorcycle accident left him disabled. After long months of therapy, he hired an experienced luthier and started a small shop to make and sell Spanish guitars. The guitars sell for $$700,$ and the fixed monthly operating costs are as follows:

Rent and utilities

Wages and benefits to luthier

Other expenses

$$810$

$$2,510$

$$470$

Phoenix's accountant told him about contribution margin ratios, and Phoenix understood clearly that for every dollar of sales, $$0\mathrm{.}60$ went to cover his fixed costs, and anything above that point was profit.

Phoenix is planning to increase the sales price to $$760.$ What impact will the increase in sales price have on the contribution margin ration

A$.$ It will increase to approximately $63\mathrm{.}16\%.$

B$.$ It will decrease to approximately $47\mathrm{.}37\%.$

C$.$ It will stay the same.

D$.$ It will increase to $52\mathrm{.}11\%.$