LaSalle Inc.'s 20X2 and 20X1 Income Statement is as follows: 20X2 20X1 Revenues $55837 $53085 Cost of goods sold 18363 18595 Gross profit 37474 34490 Research and development 7729 7051 Sales and marketing 7240 4850 General and administrative 3877 2970 Operating income $18628 $19619 Other income, net 1066 199 Income before income taxes $19694 $19817 Income tax expense 5492 4207 Net income $14202 $15610 Cash paid for income taxes $2918 $1227 What is its 20X1 effective tax rate? (Please round to 3 decimal places. For example: 0.123.) Answer:Question 15