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. If Rent Our Boxes had net income of $39.802 with net sales of $295,585. What was its profit margin on net sales to the nearest hundredth percent? Profit margin 96