INCOME STATEMENT Net Sales $22,000,000 Cost of Goods Sold $12,090,000 Gross Profit $9,910,000 Depreciation Expense $1,400,000 S&A Expenses $1,672,000 Operating Income (EBIT) $6,838,000 Interest Expense $2,400,000 Income before Taxes $4,438,000 Income Taxes (42%) $1,863,960 $2,574,040 Net Income Morgan Stanley has the income statement shown above. What is the Net Profit Margin? Round your answers.