What is the percent and decimal of 12/15

The magicsoft software company has a proposal to the city council of alva, florida, to relocate there. the proposal claims that the company will generate $3.3 million for the local economy by the $1 million in salaries that will be paid. the city council estimates that 70% of the salaries will be spent in the local community and 70% of that money will again be spent in the community, and so on.