Dr. Zhivago Diagnostics Corporation's income statement for 20X1 is as follows: Sales Cost of goods sold Gross profit Selling and administrative expense Operating profit Interest expense Income before taxes Taxes (30%) $ 2,750,000 1,450,000 $ 1,300,000 377,000 $ 923,000 57,600 $ 865,400 259,620 $ 605,780 Income after taxes a. Compute the profit margin for 20X1. Note: Input the profit margin as a percent rounded to 2 decimal places. Profit margin %