A company employees two consultants who each have a different specialization. Caitlin specializes in industrial commercial construction and Zachary specializes in residential construction. The company expects to incur total overhead costs of $905,080 during the year and applies overhead based on annual salary costs. Caitlin's annual salary is $169,200, and she is expected to bill 2,400 hours during the year. Zachary's annual salary is $97,000, and he is expected to bill 2,000 hours during the year. Required: a. Calculate the predetermined overhead rate. b. Assuming that the hourly billing rate should be set to cover the total cost of services plus a 25% markup, compute the hourly billing rates for Caitlin and Zachary