v (b) Your answer is correct. Calculate the profit margin and the gross prot rate. (Round answers to 1 decimal place, e.g. 15.2%) Prot margin Gross profit rate SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT LINK TO TEXT Attempts: 1 of 3 used V (CI) The vice president of marketing and the director of human resources have developed a proposal whereby the company would compensate the sales force on a strictly commission basis. Given the increased incentive, they expect net sales to increase by 15%. As a result, they estimate that gross prot will increase by $42,870 and expenses by $62,116. Compute the expected new net income. Then, compute the revised prot margin and gross prot rate. (Ignore income tax effects.) Revised net income $' i l / Revised gross prot rate (Round to 1 decimal place, e.g. 15.2%) V ' % Revised prot margin (Round to 1 decimal place, e.g. 15.2%) l