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Serfass Corporation's contribution format income statement for July appears below: Sales $ 260,000 Variable expenses 176,000 Contribution margin 84,000 Fixed expenses 71,800 Net operating income

Serfass Corporation's contribution format income statement for July appears below: Sales $ 260,000 Variable expenses 176,000 Contribution margin 84,000 Fixed expenses 71,800 Net operating income $ 12,200 The degree of operating leverage is closest to

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