Hanlon Company has recorded the following data regarding its inventories. To manufacture product MPC$1,$ it takes $4$ hours to move raw materials to the work$-$inprocess area. Transforming the raw materials into finished goods takes three production steps of $3$ hours each. The finished goods are then temporarily stored in a storage area for $10$ hours. Finally, they are inspected which takes $4$ hours. Calculate the processing cycle efficiency for product MPC$1.$

$42\mathrm{.}8\%$

$50\mathrm{.}0\%$

$33\mathrm{.}33\%$

$100\%$