In 2012, Cedarbrook Industries had sales of $421,900, costs of $304,950, and depreciation of $38,200. Its interest expense totaled $19,100.

In 2012, Cedarbrook Industries had sales of $421,900, costs of $304,950, and depreciation of $38,200. Its interest expense totaled $19,100. The company paid dividends of $8,000 and increased retained earnings by $22,600. At what average rate did Cedarbrook pay taxes?