A company will base its predetermined overhead rate on the estimated direct labor hours for the next year. For next year, the company estimates it will incur 70,000 direct labor hours. If estimated variable manufacturing costs are $567,580 and estimated fixed manufacturing cost are $1,630,960 for next year, the predetermined overhead rate for next year is (round your answer to the closest $0.01): O $3.18. O $23.30. $31.41. $8.11