A manufacturer of cedar shingles has supplied the following data:
Bundles of cedar shakes produced and sold 247,000
Sales revenue $2,000,700
Variable expense:Variable manufacturing expense $973,700
Variable selling and administrative expense 258,700 1,232,400
Contribution margin 768,300
Fixed expense: Fixed manufacturing expense 484,000
Fixed selling and administrative expense 273,000 757,000
Net operating income $11,300
The company's contribution margin ratio is closest to: (Do not round intermediate calculations. Round your answer to whole percentage.)