Bluecap Company uses a standard cost system and flexible budgets for control purposes. The following budgeted information pertains to 2021: During 2021, Bluecap worked 27,000 DLHs and manufactured 9,300 units. The actual factory overhead cost for the year was $17,000 greater than the flexible budget amount for the units produced, of which $8,000 was due to fixed factory overhead. In preparing a budget for 2022 Bluecap decided to raise the level of operation to 90% of capacity (a level it considers to be "practical capacity"), to manufacture 8,700 units at a budgeted total of 26,100 DLHs. Under the assumption that the total budgeted fixed overhead for 2022 is the same as it was for 2021 , what is the standard fixed overhead application rate per DLH (to two (2) decimal places) for Bluecap Company for 2022 ? (Round your intermediate calculation to 2 decimal places.) $4.04 $4.24. $6.64. $9.34. 59.04