Determine the percentage increase in annual operating income if Sunland Corporation increases its selling price by 20% and all other factors (including demand) remain constant.

Sunland Corporation sells a single product for $50. Its management estimates the following revenues and costs for the year 2022 : \begin{tabular}{lrlr} Net sales & $470,000 & Selling expenses-variable & $18,800 \\ Direct materials & 84,600 & Selling expenses-fixed & 18,800 \\ Direct labour & 56,400 & Administrative expenses-variable & 9,400 \\ Marufacturing overhead-variable & 18,800 & Administrative expenses-fixed & 9,400 \\ Manufacturing overhead-foced & 28,200 & \end{tabular} Sunland Corporation sells a single product for $50. Its management estimates the following revenues and costs for the year 2022 : \begin{tabular}{lrlr} Net sales & $470,000 & Selling expenses-variable & $18,800 \\ Direct materials & 84,600 & Selling expenses-fixed & 18,800 \\ Direct labour & 56,400 & Administrative expenses-variable & 9,400 \\ Marufacturing overhead-variable & 18,800 & Administrative expenses-fixed & 9,400 \\ Manufacturing overhead-foced & 28,200 & \end{tabular}