A corporation has a taxable income of $7,700,162. At this income level, the federal income rate is 47%, the state tax rate is 22%, and the local tax rate is 9%. If each tax rate is applied to the the total taxable income, the resulting tax liability for the corporation would be (47 + 22 + 9)%. Luckily for the corporation, the taxes paid are deducted as described above. What is the tax liability (as a percentage of taxable income) if the customary deductions are taken into consideration?

%. Round to the nearest tenth of a percent (one decimal place).