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. Financial 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

. Financial 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 gross profit rate would be

a. .36.

b. .64.

c. .40.

d. .34.

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