The Newspaper in Panama City, Florida, the News Herald, Charges

The newspaper in Panama City, Florida, The News Herald, charges national advertisers $45.00 per column inch. On Sunday, which is the day most national advertisers would want to advertise, this newspaper has a circulation of 70,000 households. Assuming only 40,000 are part of an advertiser's target audience, calculate CPM for one column inch.

A) $0.64
B) $1.13
C) $6.40
D) $11.30
E) $1,800