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Pharoah company reported net sales of $ 2 6 6 , 0 0 0 , cost of goods sold of $ 1 5 9 ,

Pharoah company reported net sales of $266,000, cost of goods sold of $159,600, operating expenses of $46,400, net income of $42,560, beginning total assets of $492,700, and ending total assets of $621,800. Calculate profit margin and gross profit rate.

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