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 $240,300 and 4,730 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $245,000 and actual direct labor-hours were 4,640. The predetermined overhead rate for the year was closest to:

• $52.80

• $50.80

• $49.84

• $51.80