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Question
As part of the largest-to date damage award in a jury trial in history, the penalty handed down against the tobacco industry included a $74 billion judgment against Philip Morris. If this amount was 94% of this company's 1999 revenue, how much was Philip Morris's 1999 revenue?
Solution
VerifiedStep 1
1 of 2Let be Philip Morris's 1999 revenue, in billion dollars.
We are given that 94% of Philip Morris's 1999 revenue is equal to billion so:
Divide both sides by 0.94:
So, Philip Morris's 1999 revenue is about billion.
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