Grouper Corp. reported net sales $590,000, cost of goods sold $330,400, operating expenses $180,000, and net income $56,050. Calculate the profit margin and gross profit rate. (Round Profit morgin answer to 2 decimal places, eg. 10.20\%. Round Gross profit rate onswer to 0 decimal place, eg. 10\%.) Profit margin % Gross profit rate %