I need it in 20 minutes SM.63 A small company has $7,000,000 in (annual) revenue, spends 60% of its revenues on purchase

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I need it in 20 minutes
SM.63 A small company has $7,000,000 in (annual) revenue, spends60% of its revenues on purchases, and has a net profit margin of7%. They would like to increase their profits and they are lookingat focusing in one of two directions. First, they think they cansave 2.20% on their purchase expenses. Or second, they can focus onincreasing sales.By what percentage would they have to increase sales in order toequal a 2.20% savings to purchasing expenses? (Write your answer asa percentage, and display your answerto two decimal places.) %