Gibco Service has budgeted the following time-and-material for 2019:

Budgeted Costs For 2019
		Time	Material
		Charges	Charges
	Painters' wages and benefits	$54,000
	Service manager's salary and benefits		$44,000
	Office employee's salary and benefits	7,400	6,000
	Cost of paint		50,000
	Overhead (supplies, utilities, etc.)	14,000	22,000

Gibco budgets 2,000 hours of paint time in 2019 and will charge a profit of $8 per hour on the labour rate, in addition to a 12% mark-up on the cost of paint.

On February 15, 2019, Gibco is asked to prepare a price estimate to paint a building. Gibco estimates that this job will take 25 labour hours and $900 in paint.

1.Calculate the material loading charge rate % for 2019

2. What is the planned profit for the year? Do not enter $ or commas.