William Burris invested $$100,000$ in an Australian$-$based franchise, Rent Your Boxes, purchasing three territories in the Washington area. After finding out the company had gone bankrupt, he rallied $10$ other franchisees to join him and created a new company, Rent Our Boxes. Assume Rent Our Boxes had net income of $$37,902$ with net sales of $$276,585.$

What was its profit margin on net sales?