Writing question, help!

<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>At first I thought was losing should be just lost since it begins with 'the Daily Gazette lost' but then I thought it sounded fine. Then I thought that 'as much as' maybe should have some sort of comparison. In the end I put down E, no error and when I went to check it was B, lost! </p>

<p>I know the tenses have to be parallel but I just don't know why, for the life of me, B is the answer. Blah.</p>

<p>The answer is b because of the word “since”. Lost is a preterite, meaning that it occurred only one. However, the verb should be in the present perfect state, meaning that it happened in the past but it has present implications( as of the present day the gazette has less subscribers- a decline ever since 1920)</p>

<p>Does that make sense? Lost should be has lost</p>