NovaTech Systems has reported the following financial data for the year: . Sales: $3,740,000 • . Selling and administrative expenses: $182,500 Interest expense: $25,400 . Cost of goods sold: $2,245,600 What is the gross margin? a. $1,512,500 b. $1,494,400 c. $1,511,900 d. $1,288,900

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