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2400000\times \frac{1}{20}
Reduce the fraction \frac{5}{100} to lowest terms by extracting and canceling out 5.
\frac{2400000}{20}
Multiply 2400000 and \frac{1}{20} to get \frac{2400000}{20}.
120000
Divide 2400000 by 20 to get 120000.