firm had the following income statement for last year, using these numbers calculate the Pre-Tax Profit Margin Ratio rounded 2 decimal points, do not include the % sign.

Sales	$ 37,611
Less: COGS	20,889
Gross Profit	16,722
Less: Operating Exp	11,483
Less: Depreciation	1,575
Operating Profit (EBIT)	3,664
Less: Interest Exp	1,400
Earnings Before Taxes	2,264
Less: Tax Exp	475
Earnings After Taxes	$ 1,789