PDQ$,$Incorporated expects EBIT to be approximately $$12\mathrm{.}4$ million per year for the foreseeable future, and it has $50,00020$ year, $6$ percent annual coupon bonds outstanding. $($Use Table $11\mathrm{.}1.)$

What would the appropriate tax rate be for use in the calculation of the debt component of PDQ$\text{'}$s WACC?

Note: Round your answer to $2$ decimal places.

Tax rate

Fri Mar $1$

Table $11\mathrm{.}1$ Corporate Tax Rates

$\backslash$table$[[$Taxable Income,Tax Rate$],[$$$0-$$$50,000,15\%$