Accelerated Logistics provides the following information:

Operating income	$1,550,000
Net sales	$13,000,000
Average total assets	$1,850,000
Management's target rate of return	30%

What is the company's profit margin ratio? (Round your answer to two decimal places.)

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Part 1

A.

11.92%

B.

22.4%

C.

83.78%

D.

14.23%