Sales for a firm are $500,000, cost of goods sold are $400,000, and in
Sales for a firm are $500,000, cost of goods sold are $400,000, and interest expenses are $20,000. What is the gross profit margin?
A) 16.0%
B) 20.0%
C) 4.0%
D) 25.0%
E) 30.0%
ANSWER
B
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