profit margin

Problem 3-25 Profit Margin LO 3] Dimeback Co has total assets of $9,600,000 and a total asset tunover of 2.46 times. Assume the return on assets is 12 percent. Required: What is its profit margin? (Do not round intermediate calculations. Enter your answer as a per cent rounded to 2 decimal places (e.g., 32.16)) margin