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Central Division for Chemical Company has a rate of return on investment of 24% and an investment turnover of 1.56. What is the profit margin?

Central Division for Chemical Company has a rate of return on investment of 24% and an investment turnover of 1.56. What is the profit margin? Round the percentage to two decimal places. a. 23.08% b. 15.38% c. 12.31% d. 18.46%

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