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It is an equation.
The equals sign means "is equal to". It is telling us that one thing equates to another; that they are the same.
If 80% equates to 2416.70, then 1% equates to 2416.70/80. Thus 100% equates to 100 x 2416.70/80 = 3020.875
1 inch equates to 2.54 centimeters and 1 centimeter equates to 0.394 inches.
8/7