Question $11(10$ points$)$

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Life$-$Style Fitness, Inc. competes in the fitness market in South Carolina. $2010$ industry sales were estimated at $$71\mathrm{.}2$ million. Sales of the $4$ largest firms in the industry were:

$24$ Hour Fitness: $$6\mathrm{.}4$ million

YMCA: $$4\mathrm{.}8$ million

Life$-$Style Fitness: $$3\mathrm{.}8$ million

Iron Gym: $$1\mathrm{.}5$ million

Calculate the $4-$firm industry concentration ratio. Round your answer to two decimal places.

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