Question: I am looking for the correct answer to this Financial accounting question with appropriate explanations. Maritime Merchants reports the following annual figures: Gross Sales: $720,000

I am looking for the correct answer to this Financial accounting question with appropriate explanations.

Maritime Merchants reports the following annual figures: Gross Sales: $720,000 Sales Returns & Allowances: $45,000 Sales Discounts: $18,000 Cost of Goods Sold: $396,000 Operating Expenses: $210,000 Income Tax Expense: $42,000 What is the company's gross profit margin percentage

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