At a Volume Level of 500,000 Units, Sullivan Reported the Following

Multiple Choice

At a volume level of 500,000 units, Sullivan reported the following information: $\begin{array}{lr}\text { Sales price } & \$ 60 \\\text { Variable cost per unit } & 20 \\\text { Fixed cost per unit } & 4\end{array}$ The company's contribution-margin ratio is closest to:

A) 0.33.
B) 0.40.
C) 0.60.
D) 0.67.
E) None of the other answers is correct.