At the end of the current year, Chestnut Inc. reported the following information:

Sales	$450,000
Operating income	$150,000
Average total assets	$520,000
Average stockholders' equity	$330,000

Calculate the profit margin of Chestnut. (Round the answer to two decimal places.)

a.26.50%

b.33.33%

c.42.25%

d.53.45%