Flingen Inc. reveals the following information in their annual report for FY $2023$

Selected Income Statement Items: $$

Sales $$7,000,000$

Cost of goods sold $$6,200,000$

Pretax earnings $$1,000,000$

$$

Selected Balance Sheet Items: $$

Merchandise inventory $$100,000$

Total assets $$2,000,000$

What is Flingen's projected profit margin for $2024,$ assuming they plan to reduce cost of goods sold by $2\mathrm{.}0\%$ for the coming year while maintaining the same sales revenue? $($Please round answer to nearest whole percentage$).$