Celestial Navigation is a store for people who collect nautical items and use them to decorate their homes. Last year its net sales totaled $120, 500. The value of the items it sold was $72,300. The only expenses that the operation has are (1) licenses for $300, (2) salaries to the owner and one part-time assistant for $27,000, (3) administrative expenses of $500, and (4) utilities at $1,200. Calculate the net profit margin for Celestial Navigation. 15.9 percent 24 percent 60 percent cannot be determined from the information provided 40 percent