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Source: OG11th
Level: 3
A pharmaceutical company received $3 million in royalties on the first $20 million in sales of the generic equivalent of one of its products and then $9 million in royalties on the next $108 million in sales. By approximately what percent did the ratio of royalties to sales decrease from the first $20 million in sales to the next $108 million in sales?
- A 0.08
- B 0.15
- C 0.45
- D 0.52
- E 0.56