Question: Consider following data for creating pro-forma income statement for project ABC. Sales $817,771 Costs $355,565 Depreciation $77,555 Interest Expense $0 Marginal Tax Rate 31 percent

Consider following data for creating pro-forma income statement for project ABC.

Sales $817,771

Costs $355,565

Depreciation $77,555

Interest Expense $0

Marginal Tax Rate 31 percent

Based on the data above, depreciation tax-shield makes up _______% of the Operating Cash Flow (OCF) for project ABC.

(Do NOT include the % sign or any other text. Enter your answer as a percent rounded to 2 decimal places, e.g. 12.13)

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