Morales Corporation produces microwave ovens. The following per unit cost information is available: direct materials $40, direct labor $27, variable manufacturing overhead $18, fixed manufacturing overhead $42, variable selling and administrative expenses $15, and fixed selling and administrative expenses $38. Its desired ROI per unit is $34.20. Compute its markup percentage using a total-cost approach. (Round answer to 2 decimal places, e.g. 10.50%.)