During the course of ayear, the labor force consists of the same 882 people. Ofthese, 17 lack skills that employers desire and hence remain unemployed throughout the year. At the sametime, every month during theyear, 40 different people becomeunemployed, and 40 other different people who were unemployed find jobs. There is no cyclical unemployment.

a. Calculate the frictional unemployment rate. To be determined %. (Enter your response as a percentage rounded to two decimalplaces).