7$)

Local Co. has sales of $10.8 million and cost of sales of $6.2 million. Its selling, general and administrative expenses are $510,000 and its research and development is $1.2 million. It has annual depreciation charges of $1.2 million and a tax rate of 25% a. What is Local's gross margin? b. What is Local's operating margin? c. What is Local's net profit margin? ... a. What is Local's gross margin? Local's gross margin is %. (Round to one decimal place.)