Local Co. has sales of $10.8 million and cost of sales of $6.2 million. It's selling, general, and administrative expenses are $530,000 and its research and development is $1.5 million.
It has annual depreciation charges of $1.1 million and a tax rate of 35%.
What is the locals net profit margin?
If you could please work out the steps it would help I keep on getting stuck on this problem!