Oriole Corporation makes a mechanical stuffed alligator. The following information is available for Oriole Corporation's expected annual volume of 500,000 units: Per Unit Total Direct materials $14 Direct labour 9 Variable manufacturing overhead 12 Fixed manufacturing overhead $400,000 Variable selling and administrative expenses 5 Fixed selling and administrative expenses 150,000 The company has a desired ROI of 20%. It has invested assets of $22,200,000. a (b) Using variable-cost pricing, calculate the markup percentage. (Round answer to 2 decimal places, e.g. 15.25%.) Markup percentage %