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Sheridan Company produces flash drives for computers, which it sells for $12 each. Each flash drive costs $9 of variable costs to make. During April,

Sheridan Company produces flash drives for computers, which it sells for $12 each. Each flash drive costs $9 of variable costs to make. During April, 1000 drives were sold. Fixed costs for April were $1000. How much is the contribution margin ratio?

25%

45%

92%

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