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Consider the following income statement data for Crane Inc.: 2024 2023 Sales revenue $97400 $86100 Less: Cost of goods sold 49000 53900 Gross profit

Consider the following income statement data for Crane Inc.: 2024 2023 Sales revenue $97400 $86100 Less: Cost of goods sold 49000 53900 Gross profit 48400 32200 Less: Selling and administration costs 22600 18400 Net Income $25800 $13800 What was the 2024 profit margin closest to? O 16.0% O 23.2% O 49.7% O 26.5%

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