Baker 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 $97,500 and 3,000 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $99,400 and actual direct labor-hours were 2,850.

The predetermined overhead rate for the year was closest to:

33.20

32.50

34.52

31.26