A pharmaceutical company has drugs awaiting FDA approval. In order for the FDA to approve a drug for consumer use, the drug must pass through four phases of clinical trials: phase I, II, III, and IV. You are given the following information about the company's drugs that are in the approval process:

• 80% are in phase III or higher
• 60% are in phase III or lower
• 30% are in phase II or phase IV

Determine the percentage of the company's drugs that are in phase I or phase III of the FDA approval process

1. 30%
2. 40%
3. 50%
4. 60%
5. 70%