Dezin Manufacturing has sales of $397,420 and costs of $184,110. The company paid $34,310 in interest and $14,950 in dividends. It also increased retained earnings by $71,030 during the year. If the company's depreciation was $20,855, what was its average tax rate?

multiple choice

• 21.91%

• 37.42%

• 45.63%

• 83.93%

• 18.16%