Local Co. has sales of $10.1 million and cos! of saEes of $5.7 million. [ts selling. general and administrative expenses are $500,000 and its research and development is $1.4 million. It has annual ' depreciation charges of $1.1 million and a tax rate of 25%. a. What is Local's gross margin? b. What is Local's operaling margin? c. What is Local's net prot margin? a. What is Local's gross margin? Local's gross margin is "/9. (Round to one decimal place.)