Problem $3-25$ Profit Margin $[$LO $3]$

PXG Company has total assets of $$8,800,000$ and a total asset turnover of $2\mathrm{.}38$ times. Assume the return on assets is $12$ percent. What is its profit margin?

Note: Do not round intermediate calculations and enter your answer as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$