A firm reported the following income statement (amounts in millions):

Net sales ......................................................... $496

Cost of goods sold ........................................... 240

Selling and administrative expense ................. 48

Restructuring charges ....................................... 12

Loss on asset sale .............................................. 18

Operating income ........................................... 178

Interest expense ............................................... 18

Income before taxes ...................................... 160

Income taxes .................................................... 40

Net income ...................................................... 120

The firm's tax rate is 35 percent. You have been asked to forecast the future profit margin based on this information. What is your best estimate?