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A company shows the following balances: Sales Revenue $5,000,000 Sales Returns and Allowances 900,000 Sales Discounts 100,000 Cost of Goods Sold 2,800,000 What is the

A company shows the following balances:

Sales Revenue $5,000,000

Sales Returns and Allowances 900,000

Sales Discounts 100,000

Cost of Goods Sold 2,800,000

What is the gross profit rate?

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