Classica Industries provides financial consulting and has collected the following data for the next year's budgeted activity for a lead consultant. Consultants' wages $95000 Fringe benefits $22500 Related overhead $17500 Supply clerk's wages $18000 Fringe benefits $4000 Related overhead $20000 Profit margin per hour $20 Profit margin on 15% materials Total estimated 5000 consulting hours Total estimated material $164000 costs The labor rate per hour is