Bolander Corporation uses a job-order costing system with a signal planwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Recently, Job M825 was completed with the following characteristics: The predetermined overhead rate is closest to: $8.80 per machine-hour $6.50 per machine-hour $2.30 per machine-hour $4.20 per machine-hour