ABC Company had the following results last year $($in thousands$).$ Management's required rate of return is $8\%$ and the weighted average cost of capital is $6\%.$ Its effective tax rate is $30\%.5\%$ is not a correct answer.

Sales $$8,000,000$

Gross profit $$600,000$

Total Net income $$300,000$

Total Assets $$10,000,000$

Operating income $$1,000,000$

Current liabilities $$500,000$

What is the division's profit margin?

Group of answer choices

$5\%$

$10\%$

$20\%$

$12\mathrm{.}5\%$