Sage Hill Inc. reported the following in its 2017 and 2016 income statements. 2017 2016 Net sales $123.000 $98.400 Cost of goods sold 73,750 59,000 Operating expenses 26,250 13,000 Income tax expense 14.750 8.250 Net income $8,250 $ 18,150 Determine the company's gross profit rate and profit margin for both years. (Round answers to 1 decimal place, e.g. 52.7.) 2017 2016 Gross profit rate Profit margin