A company budgets overhead cost of $$8,538,500$ for the next year. The company uses machine hours as its overhead allocation base. If $430,000$ machine hours are planned for the next year, what is the company's plantwide overhead rate? $($Round your answer to two decimal places.$)$

Multiple Choice

$$0\mathrm{.}05$ per machine hour.

$$2\mathrm{.}71$ per machine hour.

$$19\mathrm{.}86$ per machine hour.

$$0\mathrm{.}37$ per machine hour.

$$19\mathrm{.}49$ per machine hour.