Reconciling between Effective and Statutory Tax Rates nondeductible fines and added $$2,800$ in tax$-$exempt municipal interest revenue to pretax GAAP income. The statutory tax rate is $25\%.$

Prepare a reconciliation between Baltimore Inc.$\text{'}$s statutory tax rate and its effective tax rate.

Note: Enter the percent rounded to one digit after the decimal; for example, enter $8\mathrm{.}4$ for $8\mathrm{.}44\%,$ or $8\mathrm{.}5$ for $8\mathrm{.}45\%.$Baltimore Inc. reported pretax GAAP income of $$45,000$ during the year. In analyzing differences between pretax GAAP income and taxable income, the company determined that it had properly deducted $$5,000$ in nondeductible fines and added $$2,800$ in tax$-$exempt municipal interest revenue to pretax GAAP income. The statutory tax rate is $25\%.$

Prepare a reconciliation between Baltimore Inc.$$s statutory tax rate and its effective tax rate.

Note: Enter the percent rounded to one digit after the decimal; for example, enter $8\mathrm{.}4$ for $8\mathrm{.}44\%,$ or $8\mathrm{.}5$ for $8\mathrm{.}45\%.$