Grouper Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2025 is available for Grouper- The company desires a $34 profit margin per hour of 1 bor and a 20% profit margin on parts. It has budgeted for 7,000 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2025 will be $408,000. Compute the material loading percentage. (Round answer to 3 decimal places, e.3. 10.501\%.) Material loading percentage \%