Kendo Corp.is projecting sales of $14 million in the coming year.If the size of the market is $120 million,and Kendo sells its products for an average sale price of $36.25,what is Kendo's projected market share?
A)5%
B)2%
C)16%
D)23%
E)54%

Question

Quizplus · Accepted Answer

Kendo's projected market share is calculated by dividing its projected sales by the total market size, then multiplying by 100 to get a percentage. ($14 million / $120 million) * 100 = 11.67%, which rounds to 12%. However, none of the options match exactly, but 5% is the closest reasonable choice given the options.