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Business, 05.03.2020 11:52 aliami0306oyaj0n

GEICO, the number-two auto insurer with $20 billion in revenue last year, spent $0.8 billion on advertising that year and plans to continue spending the same percentage of sales on advertising next year. The average advertising-to-sales ratio for the insurance industry is 0.3 percent of sales. If GEICO projects $24 billion in sales next year, using the percentage-of-sales method of advertising budgeting, how much will the company budget for advertising of basing it on projected sales

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