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Athabaska Co had the following results for the current year: net sales were $500,000, cost of goods sold was $278,000, profit before interest and tax

Athabaska Co had the following results for the current year: net sales were $500,000, cost of goods sold was $278,000, profit before interest and tax was $122,000, and profit was $57,000. The company's gross profit ratio would be %. (Round your answer to two decimal places.)

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