You are working on your income statement for the year. You purchase raw materials for $250,000. You spend $120,000 on salaries, $5,000 per month on rent, $50,000 on advertising, and $12,000 on office supplies. Additionally, you paid $2,000 in interest payments and the tax rate is 21%. Your sales for the year totaled $500,000. What is your profit margin?

1. 2.76%
2. 0.86%
3. 1.6%
4. 1.26%%

if there is no answer, please give me the right answer