X Company, a merchandiser, buys and sells two different products, 1 and 2. The firm uses a single driver system to allocate its period expenses to these products. Budgeted revenues and expenses for the coming year are as follows: Product Product 1 Total 2 Revenue $1,220,000 $930,000 $2,150,000 Expenses Cost of Good Sold $732,000 $632,400 $1,364,400 Period expenses $396,000 Using Cost of Goods Sold as the single driver, what was the allocation of period expenses to Product 1 [round the allocation rate to two decimal places]