Exercise $3-11$A $($Algo$)$ Margin of safety LO $3-4$

Gibson Company makes a product that sells for $$32$ per unit. The company pays $$18$ per unit for the variable costs of the product and

incurs annual fixed costs of $$117,600.$ Gibson expects to sell $21,100$ units of product.

Required

Determine Gibson's margin of safety expressed as a percentage.

Note: Round your answer to $2$ decimal places. $($i$.$e$.,0\mathrm{.}2345$ should be entered as $23\mathrm{.}45)$