XYZ is evaluating a project that would require the purchase of a piece of equipment for $560,000$ today during year one the project is expected to have relevant revenue of $757000$ relevant cost of $204,000$ and relevant depreciation of $130,000$ XYZ would need to borrow $560,000$ today to pay for the equipment and would need to make an interest payment of $34,000$ to the bank in one year relevant income for the project in one year is expected to be $348,000$ What is the tax rate expected to be in one year?