The following information applies to the questions displayed below.]

Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):

Sales	$	22,100
Variable expenses		12,700
Contribution margin		9,400
Fixed expenses		7,708
Net operating income	$	1,692

2.	What is the contribution margin ratio? Round your percentage answer to 2 decimal places (i.e .1234 should be entered as 12.34).