Nildhorse Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Nildhorse: The company wants a $30 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,720 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $442,000. Calculate the material loading percentage. (Round answer to 3 decimal places, eg. 15.251\%.)