16.* A company expected its annual overhead costs to be $1, 800, 000 and direct labor costs to be $1, 000, 000 . Actual overhead was $1 , 740, 000 and actual labor costs totaled $1, 100, 000. How much is the company's predetermined overhead rate to the nearest cent ? $1 . 80 $1. 64 C . $1. 57 d . $1. 74