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2. Given below are account balances for Charlie Company: Gross sales, $102,000 Sales returns and allowances, $6,000 Selling expenses, $12,000 Cost of goods sold, $44,000

2. Given below are account balances for Charlie Company: Gross sales, $102,000 Sales returns and allowances, $6,000 Selling expenses, $12,000 Cost of goods sold, $44,000 Interest expense, $3,000 How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example - enter 46% as .46)

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