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At the end of the current year, Singleton Inc. reported the following information: Sales $412,000 Operating income 163,000 Average total assets 475,000 Average stockholders' equity

At the end of the current year, Singleton Inc. reported the following information: Sales $412,000 Operating income 163,000 Average total assets 475,000 Average stockholders' equity 365,000.

Compute the profit margin of Singleton. (Round the answer to two decimal places.)

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