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A company shows the following balances: Sales Revenue Sales Returns and Allowances Sales Discounts Cost of Goods Sold $ 2 4 6 1 0 0

A company shows the following balances:
Sales Revenue
Sales Returns and
Allowances
Sales Discounts
Cost of Goods Sold
$2461000
421000
40000
1400000
What is the gross profit rate?
56.0%
44.0%
30.0%
70.0%
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