Homework: Chapter 2 Homework Save Score: 0 of 1 pt 3 of 17 (3 complete) HW Score: 17.65%, 3 of 17 pts P 2-23 (similar to) B Question Help Local Co. has sales of $10.3 million and cost of sales of $6.2 million. Its selling, general and administrative expenses are $540,000 and its research and development is $1.1 million. It has annual depreciation charges of $1.3 million and a tax rate of 35%. a. What is Local's gross margin? b. What is Local's operating margin? c. What is Local's net profit margin? a. What is Local's gross margin? Local's gross margin is %. (Round to one decimal place.)