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Family Home & Security, Inc., sells Super padlocks. It reported an increase in net sales from $4.5 billion in 2014 to $4.8 billion in 2015, and an increase in gross profit from $1.3 billion in 2014 to $1.5 billion in 2015. Problem 1: Calculate each year's (2014 & 2015) gross profit percentage. (Round your answers to 1 decimal place.)
Problem 2: Determine whether the change in gross profit represents one of the following:
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