The relationship between the mean, median, and mode is given by the empirical formula:
\[
\text{Mode} = 3 \times \text{Median} - 2 \times \text{Mean}.
\]
Substitute the given values:
\[
\text{Mode} = 3 \times 40 - 2 \times 38.2 = 120 - 76.4 = 43.6.
\]
Thus, the correct answer is \( \boxed{43.6} \).