The sorted dataset is: [21, 22, 23, 24, 26, 28, 29, 31, 32, 34, 35, 36, 40, 41, 43, 44, 46, 47, 48].
Using the formula $i = \frac{P}{100} \times (N + 1)$, we find the position $i = 14$.
Since $i$ is an integer, the value at position $i$ in the sorted list is the $P^{\text{th}}$ percentile.