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Plano Corporation reported net income $24,000, net sales $400,000, and average assets $600,000 for 2020. What is the 2020 profit margin? 6%. 12%. 40%. 200%.

Plano Corporation reported net income $24,000, net sales $400,000, and average assets $600,000 for 2020. What is the 2020 profit margin?

6%.

12%.

40%.

200%.

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