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Rappaport Corp.'s sales last year were $445,000, and its net income after taxes was $23,000. What was its profit margin on sales? Select the correct

Rappaport Corp.'s sales last year were $445,000, and its net income after taxes was $23,000. What was its profit margin on sales?

Select the correct answer.

a. 5.13 %

b. 5.17 %

c. 5.11 %

d. 5.19 %

e. 5.15 %

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