Plano Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2014. What is

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Plano Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2014.

What is the 2014 profit margin?

(a) 6%.

(c) 40%.

(b) 12%.

(d) 200%.

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