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Accounting information is presented below: Operating expenses $ 45,000 Sales returns and allowances 3,000 Sales discounts 7,000 Sales revenue 160,000 Cost of goods sold 96,000

Accounting information is presented below:

Operating expenses $ 45,000

Sales returns and allowances 3,000

Sales discounts 7,000

Sales revenue 160,000

Cost of goods sold 96,000

The profit margin is

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