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Royce Corp's sales last year were $280,000, and its net income was $23,000. What was its profit margin? a. 7.41% b. 8.21% c. 7.80% d.

Royce Corp's sales last year were $280,000, and its net income was $23,000. What was its profit margin?

a. 7.41%

b. 8.21%

c. 7.80%

d. 8.63%

e. 9.06%

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