<p>Despite its cultural importance, the Daily Gazette lost 70 percent of its subscribers since 1920 and, by 1955, was losing as much as $200,000 a year. </p>
<p>Lost is the correct answer. The reason given is as follows: </p>
<p>"The error in this sentence occurs at (B), where the present perfect tense of the verb (has lost) should be used instead of the past tense (lost) to indicate an action that is completed in the present (since 1920)." </p>
<p>Could someone please explain or give a few examples on the correct situation to use the present perfect tense and the past tense? I googled it, ofcourse, but came up a little confused. "Since 1920" seemed like a set time to me, but the correct answer may be in present perfect tense because X% could have been lost in 1930 or X% in 1940.</p>
<p>Thanks for your help guys</p>