The Gasson Company sells three products, Product A, Product B and Product C, and had sales of $1,050,000 during the month of June. The company's overall contribution margin ratio was 37% and fixed expenses totaled $350,000. Sales were: Product A, $520,000; Product B, $310,000; and Product C, $220,000. Traceable fixed costs were: Product A, $122,000; Product B, $104,000; and Product C, $61,200. The variable expenses of Product A were $310,000 and the variable expenses of Product B were $183,600.

The contribution margin ratio for Product C is: (Round your final percentage to one decimal place.)

76.3%

23.7%

21.0%

27.8%