Nash Inc. is the only player in the classy snow shovel market. The variety of shovel designs includes camouflage (both green and pink, of course), snowman, beach, and northern lights. Nash purchases basic aluminum snow shovels from a supplier, applies its durable designs, and sells the shovels for $30 each. Last year, the company generated $58,000 in operating income, based on the following details. This year, the company realizes that its operating expenses will increase by $16,000 and its direct labor costs will increase by 20% per unit. (a) What markup percentage on total cost did the company use last year when it generated $58,000 in operating income? (Round answer to 2 decimal places, e.g. 15.25\%.) Markup percentage %