Concord Corporation produces microwave ovens. The following per unit cost information is available: direct materials $30, direct labor $20, variable manufacturing overhead $16, fixed manufacturing overhead $44, variable selling and administrative expenses $18, and fixed selling and administrative expenses $22. Its desired ROI per unit is $26. Compute the markup percentage using absorption-cost pricing. (Round answer to 2 decimal places, e.g. 10.50%.)

Markup percentage %