Step 1: Concept Moisture content can be expressed on a Wet Basis ($M_w$) or Dry Basis ($M_d$).
Step 2: Meaning The conversion formula is: $M_d = \frac{M_w}{100 - M_w} \times 100$.
Step 3: Analysis Given $M_w = 22%$.
Calculation: $M_d = \frac{22}{100 - 22} \times 100 = \frac{22}{78} \times 100$.
$22 \div 78 \approx 0.28205$.
Step 4: Conclusion $0.28205 \times 100 = 28.2%$.
Final Answer: (C)