Crescent Lighting Inc. produces and sells lighting fixtures. An entry light has a total cost of $68 per unit, of which $36 is product cost and $32 is selling and administrative expenses. In addition, the total cost of $68 is made up of $40 variable cost and $28 fixed cost. The desired profit is $8 per unit. Determine the markup percentage on product cost. Round the answer to nearest whole number. %