M U , LULU, L.JU.J4 PM America/New York-04:00) Question 21 View Policies Show Attempt History Current Attempt in Progress Presented below is information for Sandhill Company for the month of January 2022 apport Cost of goods sold $289,000 Rent expense $33,000 Freight out 7,800 Sales discounts 7,700 Insurance expense 12,500 42,000 Salaries and wages expense Sales returns and allowances Sales revenue 438,000 Calculate the profit margin and the gross profit rate. (Round answers to 2 decimal places, eg. 15.25.) Profit margin 8.78 Gross profit rate 31.40