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A company expected its annual overhead costs to be $699300 and machine hours to equal 99900 hours. Actual overhead was $745200, and actual machine hours

A company expected its annual overhead costs to be $699300 and machine hours to equal 99900 hours. Actual overhead was $745200, and actual machine hours totalled 97300 hours. How much is the companys predetermined overhead rate to the nearest cent, assuming overhead is applied based on machine hours?

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