A classification model is built to predict whether people will subscribe to a new magazine. 1000 records are put through this model. The model predicts that 700 people will subscribe; of those 700 people, 340 actually do subscribe. The model also predicts that 300 people will not subscribe; of those 300 people, 20 actually do subscribe. To the nearest percent, what is the precision rate of this model? 51 percent 38 percent 49 percent 62 percent