Pendant Publishing reported the following results for its Textbook Division: 
Pendant's target rate of return is 11% and the weighted average cost of capital is 6%. Its effective tax rate is 45%.
What is the Textbook Division's sales margin?
Definitions:
Federal Government
The central government of a federation, possessing authority over national issues, and comprising of executive, legislative, and judicial branches.
Representative Democracy
A type of democracy wherein citizens elect officials to represent their interests and make legislative decisions on their behalf, rather than making those decisions directly.
User Charge
A fee paid by the users of a service or facility, directly relating to the extent of their use.
Recreation Center
A facility provided by many communities for leisure, sports, and other recreational activities.
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