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Blue Spruce Corp. reported net sales $$550,000,$ cost of goods sold $$368,500,$ operating expenses $$102,000,$ and net income $$60,500.$

Calculate the profit margin and gross profit rate. $($Round Profit margin answer to $2$ decimal places, e$.$g$.10\mathrm{.}20\%.$ Round Gross profit rate answer to $0$ decimal place, e$.$g$.10\%.)$

Profit margin

$\%$

Gross profit rate

$\%$

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