When fossil fuels are burned, carbon is released into the atmosphere. Governments could reduce carbon emissions by placing a tax on fossil fuels. The cost-benefit equation In (1-P) = -0.0034 - 0.0053.x estimates the relationship between a tax of x dollars per ton of carbon and the percent P reduction in emissions of carbon, where P is in decimal form. Determine P when x = 60. Interpret the result.