Accounts in Millions of USD.

ITEM

$2020$

Accounts Receivable

$1,000$

Accounts Payable

$600$

Expense Accruals

$600$

Accumulated Depreciation

$3,000$

Cash

$1,000$

Cost of Goods Sold $($COGS$)$

$3,000$

Depreciation Expense

$300$

Interest Expense

$600$

Inventory

$3,000$

Long Term Debt

$2,000$

Operating Expenses

$600$

Net Fixed Assets

$4,000$

Notes Payable

$600$

Sales

$7,000$

Tax rate $30\%$

The gross margin rate is $\%?$

Note:

if your answer is $17\mathrm{.}51\%,$ enter $17\mathrm{.}51$

if your answer is $0\mathrm{.}1751,$ enter $17\mathrm{.}51$

Accounts in Millions of USD.

ITEM

$2020$

Accounts Receivable

$1,000$

Accounts Payable

$600$

Expense Accruals

$600$

Accumulated Depreciation

$3,000$

Cash

$1,000$

Cost of Goods Sold $($COGS$)$

$3,000$

Depreciation Expense

$300$

Interest Expense

$600$

Inventory

$3,000$

Long Term Debt

$2,000$

Operating Expenses

$600$

Net Fixed Assets

$4,000$

Notes Payable

$600$

Sales

$7,000$

Tax rate $30\%$

The gross margin rate is $\%?$

Note:

if your answer is $17\mathrm{.}51\%,$ enter $17\mathrm{.}51$

if your answer is $0\mathrm{.}1751,$ enter $17\mathrm{.}51$