Local Co. has sales of $10.1 million and cost of sales of $6.3 million. Its selling, general and administrative expenses a $460,000 and its research and development is $1.5 million. It has annual depreciation charges of $1.3 million and a 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.) b. What is Local's operating margin? Local's operating margin is \%. (Round to one decimal place.)