The Dyrdek Co. had $312,000 in 2014 taxable income. Use the tax rates from Table 2.3.

TABLE 2.3 Corporate Tax Rates Taxable Income Tax Rate

$ 0 50,000 15%

50,001 75,000 25%

75,001 100,000 34%

100,001 335,000 39%

335,00110,000,000 34%

10,000,00115,000,000 34%

15,000,00118,333,333 38%

18,333,334 + 35 %

What is the average tax rate? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)