<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>