Sheridan Corporation produces microwave units. The following per-unit cost information is available: direct materials $35; direct labour $24: variable manufacturing overhead $18; fixed manufacturing overhead $43; variable selling and administrative expenses $16; and fixed selling and administrative expenses $26. Its desired ROI per unit is $28.65. Calculate the markup percentage using variable-cost pricing. (Round answer to 2 decimal places, e.g. 15.25%.) Markup percentage %