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Myosot Company produces two models of a component, Model K-3 and Model P-4.The unit contribution margin for Model K-3 is $12; the unit contribution margin for Model P-4 is $20.Each model must spend time on a special machine.The firm owns two machines that provide 6,000 hours of machine time per year together.Model K-3 requires 24 minutes of machine time; Model P-4 requires 36 minutes of machine time.
What is the amount of machine time for model K-3 in terms of percent of a machine hour?
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