Platinum Water Media is evaluating a project that would require the purchase of a piece of equipment for 830,000 dollars today. During year 1, the project is expected to have relevant revenue of 768,900 dollars, relevant costs of 345,300 dollars, and relevant depreciation of 56,300 dollars. Platinum Water Media would need to borrow 830,000 today for the equipment and would need to make an interest payment of 25,800 dollars to the bank in 1 year. Relevant operating cash flow for the project in year 1 is expected to be 259,307 dollars. What is the tax rate expected to be in year 1?