Your company, which provides bookkeeping services to municipalities and small businesses, is about to bid on a five-year contact to provide payroll services to a large suburban school district. Your past data indicates that the average bidder for this type of contract will submit a bid higher than a relative bid of 1.10 about 80 percent of the time. However, there is a new, more aggressive competitor in the area, Compu-Pay. You estimate that Compu-Pay will bid higher than a relative bid of 1.10 only 40 percent of the time. If your company will be bidding against Compu-Pay and four other bookkeeping services companies, what is your probability of winning the contract with a relative bid of 1.10?