19. MC Qu. 76 Baker Corporation applies manufacturing overhead...

Baker Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $97,650 and 3,100 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $99,850 and actual direct labor-hours were 2,850.

The predetermined overhead rate for the year was closest to:(Round your answer to 2 decimal places.)