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Serfass Corporation's contribution format income statement for July appears below: Sales Variable expenses Contribution margin Fixed expenses Net operating income 84,035 $224,700 101,115 123,585 39,550

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Serfass Corporation's contribution format income statement for July appears below: Sales Variable expenses Contribution margin Fixed expenses Net operating income 84,035 $224,700 101,115 123,585 39,550 The degree of operating leverage is closest to

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