Sandhill Corporation reported net sales of $291,200, cost of goods sold of $160,160, operating expenses of $89,600, net income of $58,240, beginning total assets of $470,000, and ending total assets of $574,900. (a1) Calculate profit margin and gross profit rate. (Round answers to 1 decimal place, e.g. 10.2%.) Profit margin Gross profit rate % %