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please answer showing the steps Question 10 (10 points) Life-Style Fitness, Inc. competes in the fitness market in South Carolina. 2010 industry sales were estimated

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Question 10 (10 points)

Life-Style Fitness, Inc. competes in the fitness market in South Carolina. 2010 industry sales were estimated at $ 73.4 million. Sales of the 4 largest firms in the industry were: 24 Hour Fitness: $ 6.3 million YMCA: $ 5.0 million Life-Style Fitness: $ 3.5 million Iron Gym: $ 1.2 million Calculate the 4-firm industry concentration ratio. Round your answer to two decimal places.

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