Blossom Inc. produces and sells yo-yos. It is currently planning to launch a new glow-in-the-dark model. The following are the projected costs based on projected units sold of 100,000 $1.20 Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses 1.00 1.20 2.00 Annual fixed costs and expenses: Manufacturing overhead Selling and administrative expenses $50,000 35,000 Blossom Inc. will invest $1,000,000 for this new launch and would like to earn a 13% return on its investment. The old model of yo-yo sells for $6.60. Calculate the markup percentage on the total cost per yo-yo. (Round answer to 2 decimal places, eg. 15.25%.) Markup percentage %