ABC Company, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations.

Estimated manufacturing overhead	$	351,960
Estimated machine-hours		8,400
Actual manufacturing overhead	$	352,960
Actual machine-hours		8,460

The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year.

The predetermined overhead rate is closest to: