Assume the Running Shoes division of the Shoes Corporation had the following results last year (in thousands). Management's target rate of return is 15% and the weighted average cost of capital is 10%. Its effective tax rate is 25%.

Sales............................ .....$14,000,000 Operating income..................5,600,000 Total assets..................... ......4,000,000 Current liabilities.......................750,000

What is the division's sales margin?