Arco Company has two divisions - Mixers and Food Processors. Arco Company Segmented Income Statements For the Current Fiscal Year Ended December 31 Mixer Food Processor Division Division Sales $2,500,000 $1,350,000 Cost of goods sold 1,050,000 665,000 Gross margin 1,450,000 685,000 Allocated overhead 235,000 185,000 Selling and administrative expenses 195.000 90.000 Operating income 1.020,000 410,000 Income tax expense (45%) 459.000 184,500 Net Income $ 561.000 $225,500 Using the segmented income statements, what is the proht margin ratio for the Food Processor Division (to the nearest hundredth of a percent)? 0 40.80% 30.37% O 22.44% 16.70%