A local accounting firm employs 24 full-time professionals. The budgeted annual compensation per employee is $45,000. The average chargeable time is 420 hours per client annually. All professional labor costs are included in a single direct-cost category and are allocated to jobs on a per-hour basis. Other costs are included in a single indirect-cost pool, allocated according to professional labor-hours. Budgeted indirect costs for the year are $790,000, and the firm expects to have 90 clients during the coming year. What is the budgeted direct labor cost rate per hour? (Round the final answer to the nearest cent.)

		$107.14 per hour
		$20.90 per hour
		$4.46 per hour
		$28.57 per hour