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Fanfa Industries is a division of a major corporation. Data concerning the most recent year appears below:

Fanfa Industries is a division of a major corporation. Data concerning the most recent year appears below:

 

        Sales $ 17,610,000   Net operating income $ 1,021,380   Average operating assets $ 4,780,000  



The division's margin is closest to:


28.4%

22.6%

21.4%

5.8%

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