Middlefield Motors is evaluating project A, which would require the purchase of a piece of equipment for365,000 dollars. During year 1, project A is expected to have relevant revenue of 160,000 dollars, relevantcosts of 75,000 dollars, and some depreciation. Middlefield Motors would need to borrow 365,000 dollarsfor the equipment and would need to make an interest payment of 32,850 dollars to the bank in year 1. Relevant net income for project A in year 1 is expected to be 14,000 dollars and operating cash flows forproject A in year 1 are expected to be 82,000 dollars. Straight-line depreciation would be used. What is thetax rate expected to be in year 1? Answer as a rate in decimal format so that 12.34% would be entered as 0.1234 and 0.98% would be entered as .0098.