An ideal Dual combustion (limited pressure) cycle has a compression ratio $r = 14.0$, pressure ratio during constant volume heat addition $\alpha = P_3/P_2 = 1.50$, and cut-off ratio during constant pressure heat addition $r_c = V_4/V_3 = 1.40$. With $\gamma = 1.40$, the bracketed cut-off factor $K = \frac{\alpha r_c^\gamma - 1}{(\alpha - 1) + \gamma \alpha (r_c - 1)}$ in the thermal efficiency formula is equal to ________ (round off to 2 decimal places).