Sandhill Corporation makes a mechanical stuffed alligator. The following information is available for Sandhill Corporation's expected annual volume of 500,000 units: Per Unit Total Direct materials Direct labour $14 9 Variable manufacturing overhead 11 Fixed manufacturing overhead $400,000 Variable selling and administrative expenses 6 Fixed selling and administrative expenses 180,000 The company has a desired ROI of 40%. It has invested assets of $23,200,000. (a) Using absorption-cost pricing, calculate the markup percentage. (Round answer to 2 decimal places, e.g. 15.25%.) Markup percentage %