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Question - The below information is taken from the accounting records of Bornfree Limited for the current year:
Administration expenses 120,000
Cost of goods sold 570,000
Selling and distribution expenses 220,000
Interest expense 50,000
Net Sales 1,200,000
Required - What is the profit margin for the current year for Bornfree?
a. 52.5%
b. 34%
c. 24%
d. 20%
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