Sales Cost of goods sold Gross margin Selling and administrative expense Operating income Interest expense Income before taxes Income tax expense $37,000 9,400 $27,600 11,400 $16,200 5,400 $10,800 3,240 $7,560 Net income What is the company's net margin? (Round your answer to 2 decimal places.) Multiple Choice 43.78% 29.19% 74.59% 20.43%