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Ryan Company purchased 8 0 % of Chase Company for $ 2 4 0 , 0 0 0 when Chase s book value was $

Ryan Company purchased 80% of Chase Company for $240,000 when Chases book value was $300,000. Chase has 50,000 shares outstanding and currently has a book value of $400,000. Assume Chase reacquired 8,000 shares of its common stock from outsiders at $10 per share. What is Ryan's percent ownership in Chase after the acquisition of the treasury shares (rounded)?

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