Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $62 per unit, of which $32 is product cost and $30 is selling and administrative expenses. In addition, the total cost of $62 is made up of $42 variable cost and $20 fixed cost. The desired profit is $12 per unit.

Determine the markup percentage on product cost. Round the answer to nearest whole number.

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