Suppose Ivanhoe Company sells hand tatted lace for $40 per yard. Her materials cost $8 per yard and labor costs her $18 per yard. She also estimates her fixed cost to be $54 per month. If she sells 2,400 yards of lace during the month, what is her contribution margin ratio? (Round ratio to 2 percentage places, e.g. 0.38 = 38%.)

Contribution Margin Ratio

enter contribution margin ratio in percentages %