As the Treasurer of Classic Rock bank, you have been given the following information in $ thousands. Assume the year base is on a 365 day actual basis and it is the results are for the quarter ending 3Q 2022 (92 days). Calculate the effective tax rate. Round up to the nearest whole decimal.

Total Average Assets = $ 7,717,401

Total Average Earning Assets = $ 7,230,743

Total Average Shareholders (Owners) Equity = $ 781,311

Interest Income = $ 66,725

Interest Expense = $ 5,732

Non-Interest Income = $ 16,249

Non-Interest Expense = $ 49,662

Provision for Loan Losses = $ 2,303

Net Income After Taxes = $ 18,747

Average Shares Outstanding = 61,905,095 (Actual)

Group of answer choices

21.2%

25.8%

22.3%

22.2%

26.7%