Local Co. has sales of $10.1 million and cost of sales of $5.9 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 $1.1 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 one decimal place.)