Income Statement (Millions of $) Net sales Operating costs except depreciation Depreciation Earnings before interest and taxes (EBIT) Less interest Earnings before taxes (EBT) Taxes Net income 2016 $58,500 54,698 1,024 $2,779 829 $1,950 683 $1,268 Other data: Shares outstanding (millions) Common dividends (millions of $) Int rate on notes payable & L-T bonds Federal plus state income tax rate Year-end stock price 500.00 $443.63 6.25% 35% $30.42 Refer to Exhibit 4.1. What is the firm's profit margin? Do not round your intermediate calculations a. 2.1796 b. 2.41% c. 1.76% d. 2.56% e. 1.99%