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\frac{0.981}{24}
Multiply 0.001 and 981 to get 0.981.
\frac{981}{24000}
Expand \frac{0.981}{24} by multiplying both numerator and the denominator by 1000.
\frac{327}{8000}
Reduce the fraction \frac{981}{24000} to lowest terms by extracting and canceling out 3.