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Mike LLC has annual sales of 3,550,000. Earnings before interest and taxes is equal to 21 percent of sales. For the period, the firm paid
Mike LLC has annual sales of 3,550,000. Earnings before interest and taxes is equal to 21 percent of sales. For the period, the firm paid $117,900 in interest. What is the profit margin if the tax rate is 38 percent?
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