Novak Inc. had accounting income of $ 152,000 in 2020. Included in the calculation of that amount is the CEO's life insurance expense of $ 4,864, which is not deductible for tax purposes. In addition, the undepreciated capital cost (UCC) for tax purposes is $ 13,200 lower than the net carrying amount of the property, plant, and equipment, although the amounts were equal at the beginning of the year. Assume the tax rate is 25%. a Calculate the effective rate of income tax for Novak Inc. for 2020. Also make a reconciliation from the statutory rate to the effective rate, using percentages. (Round percentages to 1 decimal place, e.g. 15.2%.) Effective tax rate 26.5 % Novak Inc. Reconciliation Statement For the Year 2020 Divided by Accounting Income 25% $ 152,000 %