Using Under Armour's 10-K for the year ending December 31, 2021 (https://www.sec.gov/Archives/edgar/data/1336917/000133691722000010/ua-20211231.htm):

Consider Under Armour's deferred tax asset related to state net operating losses (NOLs). In Note 17 Under Armour says, "As of December 31, 2021, the Company had $16.6 million in deferred tax assets associated with $295.1 million in state net operating loss carryforwards..."

The reconciliation of the U.S. statutory federal income tax rate to the effective income tax rate tells us that Under Armour is capitalizing the total amount of future state taxable income that Under Armour would be allowed to offset, net of federal tax impact, at a rounded figure of 6%. What is the exact percentage with two decimals?

a) 5.63%

b) 4.72%

c) 17.00%

d) 21.00%

e) 24.25%