Mercantile Bank Corporation Financial Ratios — MCS Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	28.85	7.9	11.36	7.2	8.16	9.46	8.85	11.34	12.49	10.29	13.14	13.6	17.07	14.38	13.56
Return on Assets (%)	2.45	0.88	1.2	0.8	0.93	1.07	0.98	1.26	1.41	1.09	1.22	1.21	1.61	1.4	1.38
Return on Capital (%)	- -	5.46	7.64	5.19	6.05	6.27	5.25	5.99	6.23	5.19	6.43	6.64	8.16	7.11	7.61
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	17.3	33.22	46.25	28.7	33.13	36.95	35.79	37.26	39.91	32.76	41.13	39.82	45.5	42.46	42.65
Profit Margin (%)	64.06	22.92	31.35	19.74	23.05	25.15	24.29	30.21	32.65	26.36	32.93	32.08	36.43	34.39	36.58
Net Income to Common Margin (%)	61.76	21.03	31.35	19.74	23.05	25.15	24.29	30.21	32.65	26.36	32.93	32.08	36.43	34.39	36.58
Effective Tax Rate (%)	- -	31.02	32.21	31.22	30.42	31.94	32.14	18.91	18.2	19.53	19.93	19.43	19.94	19.02	14.24
Dvd Payout Ratio (%)	0.77	2.09	22.83	141.16	35.22	58.69	38.52	65.44	34.59	40.62	31.39	32.1	25.55	28.23	26.99
Sustainable Growth Rate (%)	28.63	7.74	8.77	-2.96	5.29	3.91	5.44	3.92	8.17	6.11	9.02	9.23	12.71	10.32	9.9

Credit (USD)

Credit Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	79	68	78	108	123	220	266	396	401	442	496	446	607	527	497
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	79	68	78	108	123	220	266	396	401	442	496	446	607	527	497
Total Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	10.09	10.3	10.74	11.34	11.5	11.06	11.13	11.16	11.47	9.95	8.68	9.06	9.75	9.66	10.61
Long-Term Debt/Equity (%)	48.14	46.38	50.87	33.06	36.89	64.5	72.57	105.58	96.24	100	108.61	101.01	116.16	90.11	68.55
Long-Term Debt/Capital (%)	32.49	31.69	33.72	24.85	26.95	39.21	42.05	51.36	49.04	50	52.06	50.25	53.74	47.4	40.67
Long-Term Debt/Total Assets (%)	5.54	4.78	5.47	3.75	4.24	7.13	8.08	11.78	11.03	9.95	9.43	9.15	11.33	8.7	7.27
Total Debt/Equity (%)	48.14	46.38	50.87	33.06	36.89	64.5	72.57	105.58	96.24	100	108.61	101.01	116.16	90.11	68.55
Total Debt/Capital (%)	32.49	31.69	33.72	24.85	26.95	39.21	42.05	51.36	49.04	50	52.06	50.25	53.74	47.4	40.67
Total Debt/Total Assets (%)	5.54	4.78	5.47	3.75	4.24	7.13	8.08	11.78	11.03	9.95	9.43	9.15	11.33	8.7	7.27
Net Debt to Equity	34.78	25.15	35.51	-16.16	10.14	10.63	17.88	85.5	40.13	-41.77	-104.97	79.08	91.16	22.88	3.25
Net Debt/Capital (%)	25.8	20.1	26.21	-19.28	9.21	9.61	15.17	46.09	28.64	-71.74	2,110.3	44.16	47.69	18.62	3.15
EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

Liquidity Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	10.09	10.3	10.74	11.34	11.5	11.06	11.13	11.16	11.47	9.95	8.68	9.06	9.75	9.66	10.61
Long-Term Debt/Equity (%)	48.14	46.38	50.87	33.06	36.89	64.5	72.57	105.58	96.24	100	108.61	101.01	116.16	90.11	68.55
Long-Term Debt/Capital (%)	32.49	31.69	33.72	24.85	26.95	39.21	42.05	51.36	49.04	50	52.06	50.25	53.74	47.4	40.67
Long-Term Debt/Total Assets (%)	5.54	4.78	5.47	3.75	4.24	7.13	8.08	11.78	11.03	9.95	9.43	9.15	11.33	8.7	7.27
Total Debt/Equity (%)	48.14	46.38	50.87	33.06	36.89	64.5	72.57	105.58	96.24	100	108.61	101.01	116.16	90.11	68.55
Total Debt/Capital (%)	32.49	31.69	33.72	24.85	26.95	39.21	42.05	51.36	49.04	50	52.06	50.25	53.74	47.4	40.67
Total Debt/Total Assets (%)	5.54	4.78	5.47	3.75	4.24	7.13	8.08	11.78	11.03	9.95	9.43	9.15	11.33	8.7	7.27
CFO/Total Liabilities	1.77	1.33	2.25	0.56	1.4	1.26	1.32	2.07	1.39	0.95	1.34	2.7	1.38	1.85	0.29
CFO/CapEx	40.48	29.83	87.98	6.64	33.31	17.09	7.13	9.77	3.32	4.21	11.53	39.73	9.96	11.85	2.66
Altman's Z-Score	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Working Capital (USD)

Working Capital Ratios API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	11.31	13.22	14.44	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	32.26	27.62	25.27	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

Enterprise Value API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	- -	- -	- -	- -	- -	- -	- -	- -	- -	430	552	531	655	642	820
- Cash & Cash Equivalents	22	31	24	162	89	184	200	75	234	626	975	97	131	393	473
+ Preferred Equity and Hybrid Capital	20	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	79	68	78	108	123	220	266	396	401	442	496	446	607	527	497
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	-142	-520	277	514	179	-14
Total Capital	244	215	231	437	457	561	631	771	817	883	952	887	1,129	1,111	1,222
Total Debt/Capital (%)	32.49	31.69	33.72	24.85	26.95	39.21	42.05	51.36	49.04	50	52.06	50.25	53.74	47.4	40.67
Total Debt / EV	- -	- -	- -	- -	- -	- -	- -	- -	- -	-3.11	-0.95	1.61	1.18	2.94	-34.34
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.46	2.28	0.77	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.31	7.72	1.77	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.37	8.58	1.93	- -
Diluted Market Cap	- -	- -	- -	- -	- -	- -	- -	- -	- -	428	557	526	651	641	775
Diluted Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	-143	-515	273	509	179	-59
EV per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	17.32	31.87	11.1	- -
TTM Sales	59	55	54	88	117	127	129	139	151	167	179	190	226	231	243
TTM EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	- -	17	29	14	36	35	39	62	45	38	65	120	67	101	18
TTM Free Cash Flow to Firm	- -	16	28	12	35	33	33	55	31	29	59	117	60	93	11

Multiples (USD)

Valuation Multiples API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.83	9.44	4.51	10.86	6.93	69.11
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	-142	-520	277	514	179	-14
Low Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.01	26.51	29.2	23.44	33	33.81
EV/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.46	2.28	0.77	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.7	9.44	8.62	7.91	8.06	8.73
Price/Earnings Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	4.85	8.49	8.76	6.19	8.29	8.24
Price/Earnings High	- -	- -	- -	- -	- -	- -	- -	- -	- -	9.7	9.91	10.13	8.09	10.96	9.42
Price/Earnings Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	7.18	7.58	4.57	6.69	6.19
Price/Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.97	1.21	1.2	1.25	1.1	1.13
Price/Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.49	1.09	1.22	0.98	1.13	1.07
Price/Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.97	1.27	1.41	1.28	1.49	1.22
Price/Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.92	1.06	0.72	0.91	0.8
Price/Tangible Book Value	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.1	1.36	1.35	1.39	1.2	1.3
Price/Tangible Book Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.55	1.22	1.38	1.08	1.23	1.22
Price/Tangible Book Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.1	1.43	1.59	1.42	1.63	1.4
Price/Tangible Book Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.04	1.19	0.8	1	0.92
Price/Sales	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.56	3.11	2.77	2.88	2.77	3.19
Price/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.28	2.8	2.81	2.26	2.85	3.01
Price/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.56	3.26	3.25	2.95	3.77	3.45
Price/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	2.37	2.43	1.66	2.3	2.26
Price/Cash Flow	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.31	8.62	4.39	9.77	6.34	43.1
Price/Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	5.66	7.76	4.46	7.64	6.52	40.67
Price/Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	11.31	9.06	5.16	9.99	8.63	46.54
Price/Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.01	6.56	3.86	5.64	5.26	30.54
Price/Free Cash Flow Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	7.42	8.5	4.58	8.49	7.13	65.22
Price/Free Cash Flow High	- -	- -	- -	- -	- -	- -	- -	- -	- -	14.83	9.92	5.29	11.1	9.42	74.62
Price/Free Cash Flow Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	0.01	7.19	3.96	6.26	5.75	48.98
EV/Sales Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.5	1.65	0.85	- -
EV/Sales High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.94	2.34	1.77	0.21
EV/Sales Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	1.12	1.05	0.3	- -
EV/EBITDA Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBITDA Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.33	34.84	33.19	40.62	39.77	47.7
High Price	- -	- -	- -	- -	- -	- -	- -	- -	- -	26.33	36.58	38.99	41.54	54.07	51.51
Enterprise Value Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	-357	-575	285	371	197	-61
Enterprise Value High	- -	- -	- -	- -	- -	- -	- -	- -	- -	-142	-493	370	529	410	51
Enterprise Value Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	-572	-652	213	237	70	-253

Per Share Data Items (USD)

Per-Share Data API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Shares Outstanding	9	9	9	17	16	16	17	17	16	16	16	16	16	16	17
Diluted Weighted Avg Shares	9	9	9	14	17	16	16	17	16	16	16	16	16	16	16
Basic Weighted Avg Shares	9	9	9	14	17	16	16	17	16	16	16	16	16	16	16
Revenue per Share	6.8	6.34	6.24	6.5	7.06	7.79	7.81	8.38	9.23	10.29	11.21	12	14.09	14.35	14.94
EBITDA per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	4.2	1.33	1.96	1.28	1.63	1.96	1.9	2.53	3.01	2.71	3.69	3.85	5.13	4.93	5.47
Basic EPS from Cont Ops	4.36	1.45	1.96	1.28	1.63	1.96	1.9	2.53	3.01	2.71	3.69	3.85	5.13	4.93	5.47
Diluted EPS, GAAP	4.07	1.3	1.95	1.28	1.62	1.96	1.9	2.53	3.01	2.71	3.69	3.85	5.13	4.93	5.47
Diluted EPS from Cont Ops	4.22	1.42	1.95	1.28	1.62	1.96	1.9	2.53	3.01	2.71	3.69	3.85	5.13	4.93	5.47
Dividend per Share	0.19	0.15	0.45	1.81	0.57	1.15	0.73	1.66	1.04	1.1	1.16	1.24	1.31	1.39	1.47
Cash Flow per Share	2.62	1.97	3.29	1.07	2.17	2.12	2.35	3.72	2.73	2.33	4.04	7.56	4.16	6.27	1.11
Free Cash Flow per Basic Share	2.55	1.91	3.26	0.91	2.1	2	2.02	3.34	1.91	1.78	3.69	7.37	3.74	5.74	0.69
Cash & Equivalents per Share	22.66	19.46	17.7	35.01	26.67	31.17	32.3	24.96	34.6	62.05	98.98	43.75	46.36	61.29	77.47
Book Value per Share	16.81	16.84	17.54	19.33	20.41	20.76	22.05	22.7	25.36	27.04	28.82	27.6	32.38	36.2	42.19
Tangible Book Value per Share	16.81	16.84	17.54	15.49	16.61	17.14	18.61	19.37	22.12	23.86	25.61	24.5	29.31	33.14	36.78