XYZ is evaluating a project that would require the purchase of a piece of equipment for $570,000 today. During year 1, the project is expected to have relevant revenue of $759,000, relevant costs of $200,000, and relevant depreciation of $128,000. XYZ would need to borrow $570,000 today to pay for the equipment and would need to make an interest payment of $37,000 to the bank in 1 year. Relevant net income for the project in year 1 is expected to be $333,000. What is the tax rate expected to be in year 1?