Cheyenne's Classic Cars restores classic automobiles to showroom status. Budgeted data for the current year are as follows. The company anticipated that the restorers would work a total of 10,560 hours this year. Expected parts and materials were $1,108,800 In late January, the company experienced a fire in its facilities that destroyed most of the accounting records. The accountant remembers that the hourly labor rate was $70.00 and that the material loading charge was 83.00%. Determine the profit margin on materials. (Round intermediate calculations to 2 decimal places, e.g. 10.25% and final answer to 0 decimal places, e.g. 10\%.)