Presented below is information for Ayayai Company for the month of March 2020.

Cost of goods sold		$220,400		Rent expense		$31,250
Freight-out		6,890		Sales discounts		7,060
Insurance expense		6,080		Sales returns and allowances		13,450
Salaries and wages expense		58,670		Sales revenue		385,700

Compute the gross profit rate. (Round answer to 2 decimal places, e.g. 25.20%.)