Crane Company reported the following information for November and December 2020.

November December

Cost of goods purchased $538,000 $614,000

Inventory, beginning-of-month 126,000 161,910

Inventory, end-of-month 161,910 ????

Sales revenue 851,000 1,000,000

Compute the gross profit rate for November.(Round answer to 0 decimal places, e.g. 15%.)

Gross profit rate ______%