Tamarisk, Inc. reported the following in its 2017 and 2016 income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income 2017 $195,000 124,800 40,135 17,000 $ 13,065 2016 $130,000 83,200 13,360 9,000 $24.440 Determine the company's gross profit rate and profit margin for both years. (Round profit margin answers to 52.7.) 2017 2016 Gross profit rate % % Profit margin % %