An inconvenient convention

Commercial hydrogen peroxide is typically sold with a given percentage of hydrogen peroxide, by weight. This is not very useful in setting up chemical reactions, where we're usually interested in molarity (moles per liter). Suppose you have a preparation of hydrogen peroxide that is 40% hydrogen peroxide by mass (and 60% water). What is its molarity?

Assumptions and Details

• The density of $\text{H}_2\text{O}_2$ is 1.45 g/mL.
• The molecular weight of $\text{H}_2\text{O}_2$ is 34.0147 g/mole.