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Local Co. has sales of $10.1 million and cost of sales of $5.7 million. Its selling, general and administrative expenses are $500,000 and its research

Local Co. has sales of $10.1 million and cost of sales of $5.7 million. Its selling, general and administrative expenses are $500,000 and its research and development is $1.4 million. It has annual de...

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