Washington Company has the following data about its only product: 
Washington Company uses the absorption approach.What is the gross margin?
Definitions:
SEC
Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry and stock markets.
Prospectus Approval
The process of getting approval from regulatory authorities for a document offering securities or financial instruments for sale, detailing terms and conditions.
Investment Bank
An organization that assists companies in issuing securities and selling them to investors.
Market
A place or mechanism where buyers and sellers can trade goods, services, securities, or other items of value.
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