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Question - Following is Stanley's income statement for the year (in millions):
STANLEY INC. Income Statement For the year ended December 31 ($ millions)
Sales $11,406.9
Cost of goods sold 7,068.3
Gross profit 4,338.6
Selling, general and administrative expenses 2,576.0
Other operating expenses 265.5
Operating income 1,497.1
Interest and other non-operating expenses 169.6
Income before income tax 1,327.5
Income tax expense 258.6
Net income $1,068.9
Required - Compute Stanley gross profit margin?
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