Local Co$.$ has sales of $$10\mathrm{.}5$ million and cost of sales of$$5\mathrm{.}5$ million. Its selling, general and administrative expenses are $$480,000$ and its research and development

is $$1\mathrm{.}4$ million. It has annual depreciation charges of $$1\mathrm{.}2$ 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?

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

Local's gross margin is $,\%.($Round to two decimal places.$)$

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

Local's operating margin is $,\%.($Round to two decimal places.$)$