YUX Corporation sells a single product for $40. Its management estimates the following revenues and costs for the year 2020:

Net sales		$424,000		Selling expensesvariable		$21,900
Direct materials		102,800		Selling expensesfixed		19,500
Direct labour		57,100		Administrative expensesvariable		9,800
Manufacturing overheadvariable		20,400		Administrative expensesfixed		10,200
Manufacturing overheadfixed		13,500

Determine the percentage increase in annual profits if YUX Corporation increases its selling price by 20% and all other factors (including demand) remain constant. (Round answer to 2 decimal places, e.g. 15.25%.)

Percent increase in profit

%