sold an During 2015, Valente Corporation merchandise costing $1,800,000 on installment basis for $2,400,000. The cash receipts related to these sales were collected as follows: • 2015: $900,000 2016: $1,000,000 . 2017: $500,000 What is the rate of gross profit on the installment sales made by Valente Corporation during 2015?
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