Suppose between 2015 and 2016 there were 3000 car parks available for use at UNSW.

In 2015, the price of a car park was $4 per day and during teaching periods 97% of these parks were taken by 8 am.

At the beginning of 2016, the price of a car park was increased to $5 per day and during teaching periods 80% of these parks were taken by 8am.

It cannot be assumed that the demand curve is linear.

Calculate the midpoint elasticity of demand for car parks at UNSW.

Round your answer to the nearest two decimal places, giving a positive value for elasticity.