Franklin Co.'s income statement is shown below for a month when they sold 15,000 units. They are a retailer so Cost of Goods Sold is entirely variable. Selling costs (part of operating expenses) are 8.65% of sales. All other costs are fixed.

Sales.........................$410,000

Cost of Goods Sold......$250,000

Operating expenses.....$119,000

What is Franklin's contribution margin ratio?

Submit your response rounded as a percent, without the percent sign (rounded to two decimals).