The Card Shoppe had a gross margin last year of $2,000,000 and a net profit of $300,000,while net sales were $2,500,000.What was The Card Shoppe's net profit margin for last year?
A) 12.0 percent
B) 15.0 percent
C) 20.0 percent
D) 68.0 percent
E) 80.0 percent
Correct Answer:
Verified
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