Local Co. has sales of $10.2 million and cost of sales of $5.8 million. Its selling, general and administrative expenses are $460,000 and its research and development is $1.5 million. It has annual depreciation charges of $1.1 million and a tax rate of 35% a. What is Local's gross margin? b. What is Local's operating margin? e. What is Local's net profit margin? a. What is Local's gross margin? Local's gross margin is 43.1% (Round to one decimal place.) b. What is Local's operating margin? Locals operating margin is % (Round to one decimal place.)