Bridgeport Inc. had accounting income of $157,000 in 2020. Included in the calculation of that amount is the CEO's life insurance expense of $4,396, which is not deductible for tax purposes. In addition, the undepreciated capital cost (UCC) for tax purposes is $12,800 lower than the net carrying amount of the property, plant, and equipment, although the amounts were equal at the beginning of the year. Assume the tax rate is 25%. Calculate the effective rate of income tax for Bridgeport Inc. for 2020. Also make a reconciliation from the statutory rate to the effective rate, using percentages. (Round percentages to 1 decimal place, e.g. 15.2%.) 26.4 Effective tax rate % Bridgeport Inc. Reconciliation Statement For the Year 2020 Divided by Accounting Income @ 25% Non-Deductible Insurance Expense $157,000 $ % Accounting Income 4,396 % $ %