Bramble Corp. reported the following in its 2025 and 2024 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income Gross profit rate 2025 $154,000 86,240 27,720 21,560 $18,480 Profit margin 2024 $124,000 69,440 16,120 (a1) Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, eg. 52.7%) 13,640 $24,800 2024

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