Skip to Main content\ Question 1\ Question 2\ Question 3\ Question 4\ Question 5\ Question 6\ Question 7\ Question 8\ Question 9\ Question 10\ Question 11\ Question 12\ Question 13\ Question 14\ Question 15\ Question 16\ Question 17\ Question content area top\ Part 1\ Local Co. has sales of $10.8 million and cost of sales of $6.3 million. Its selling, general and administrative expenses are $ 500 comma 000 and its research and development is $1.1 million. It has annual depreciation charges of $1.2 million and a tax rate of 21 %.\ a. What is Local's gross margin?\ b. What is Local's operating margin?\ c. What is Local's net profit margin?\ Question content area bottom\ Part 1\ a. What is Local's gross margin?\ Local's gross margin is \ \ enter your response here%.