Question content area topPart $1$Local Co$.$ has sales of $$10\mathrm{.}8$ million and cost of sales of $$5\mathrm{.}5$ million. Its selling, general and administrative expenses are $ $520$ comma $000$ and its research and development is $$1\mathrm{.}4$ million. It has annual depreciation charges of $$1\mathrm{.}5$ million and a tax rate of $30\%.$a$.$ What is Local's gross margin?b$.$ What is Local's operating margin?c$.$ What is Local's net profit margin?d$.$ If Local Co$.$ had an increase in selling expenses of $$350$ comma $000,$ how would that affect each of its margins?