Your company recently constructed a steel mill producing 600 000 tons of steel per year, for a construction cost of $12 000 000. You know that a rival company has constructed a similar mill, producing twice as much steel, at a cost of $20 900 000. Based on these figures, what is your estimate of the capacity factor for the steel industry?
A)0.5
B)0.6
C)0.7
D)0.8
E)0.9