Nueva Company reported the following pretax data for its first year of operations. Net sales 7,450 Cost of goods available for sale 5,750 Operating expenses 1,718 Effective tax rate 30% Ending inventories: If LIFO is elected 619 If FIFO is elected 798 What is Nueva's gross profit ratio if it elects FIFO? (Round your answer to two decimal places e.g., .1234 as 12.34%.)