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Financial information is presented below: Operating Expenses $ 45,000 Sales Returns and Allowances 13,000 Sales Discounts 6,000 Sales Revenue 160,000 Cost of Goods Sold 77,000

Financial information is presented below: Operating Expenses $ 45,000 Sales Returns and Allowances 13,000 Sales Discounts 6,000 Sales Revenue 160,000 Cost of Goods Sold 77,000 The gross profit rate would be

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