Local Co$.$ has sales of $$10\mathrm{.}7$ million and cost of sales of $$6\mathrm{.}5$ million. Its selling, general and administrative expenses are $$550,000$ and its research and development is $$1\mathrm{.}1$ million.

It has annual depreciation charges of $$1\mathrm{.}5$ million and a tax rate of $25\%.$

a$.$ What is Local's gross margin?

b$.$ What is Local's operating margin?

c$.$ What is Local's net profit margin?