During the current year, Chudrick Corporation expects to produce 11,000 units and has budgeted the following: net income $275,400, variable costs $1,050,000, and fixed costs $102,000. It has invested assets of $1,530,000. The companys budgeted ROI was 18%. What was its budgeted markup percentage using a full-cost approach? (Round answer to 2 decimal places, e.g. 10.50.)

Markup Percentage = _______%