Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $239,700 and 4,780 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $244,000 and actual direct labor-hours were 4,590. The predetermined overhead rate for the year was closest to: $51.05 O $48.15 $50.15 O $53.16