Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 21,200 Variable expenses 12,400 Contribution margin 8,800 Fixed expenses 6,952 Net operating income $ 1,848 Required: Using the degree of operating leverage, what is the estimated percent increase in net operating income of a 4% increase in sales? (Do not round intermediate calculations. Round your answer to 2 decimal places.)