Waterway Corporation produces microwave ovens. The following per unit cost information is available: direct materials $ 37, direct labor $ 24, variable manufacturing overhead $ 18, fixed manufacturing overhead $ 41, variable selling and administrative expenses $ 13, and fixed selling and administrative expenses $ 27. Its desired ROI per unit is $ 28.80. Compute its markup percentage using a total-cost approach. (Round answer to 2 decimal places, e.g. 10.50%.)

Markup percentage

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