Networking Systems, which uses the perpetual inventory system, earned sales revenue of $132 million in 2014. Cost of goods sold was $70 million, and net income reached $16 million, Networking's highest ever. Total current assets included inventory of $14.0 million at December 31, 2014. Last year's ending inventory was $13.2 million. The managers of Networking Systems need to know the company's gross margin percentage and rate of inventory turnover for 2014. Compute these amounts.