Jay purchased a property from Mike Mason who is going to finance the purchase. Jay is paying a total cost of $475,000 for the property. Mike purchased the land for $50,000. He later built the home; the total cost of the home was $390,000. The home had been used as a bed and breakfast inn for several years. The adjusted basis of the home at the time of the sale was $335,000. Jay was required to pay $35,000 down payment on December 31, 2021, the remaining balance will be paid over the next 25 years. Determine the gross profit percentage for this installment sale. (Round to four decimal places)