Local Co. has sales of $10.9 million and cost of sales of $5.5 mition. Its seting, general and administrative expenses are $460,000 and its research and development is $1.2 milion. It has annual depreciation charges of $1.3 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? Loca's gross margin is %. (Round to one decimal place.) b. What is Local's operating margin? Locals operating margin is % (Round to one decimal place.) e. What is Local's net profit margin? Locals net profit margin is %. (Round to two decimal places.)