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Royce Corp's Sales Last Year Were $250,000,and Its Net Income

Question 16

Multiple Choice

Royce Corp's sales last year were $250,000,and its net income was $23,000.What was its profit margin?

A) 9.57%
B) 8.37%
C) 9.20%
D) 11.32%
E) 9.38%

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