CR Corporation has the following estimated costs for the next year: Direct materials $4,000 Direct labor $20,000 Rent on factory building $15,000 Sales salaries $25,000 Depreciation on factory equipment $8,000 Indirect labor $10,000 Production supervisors salary $12,000 CR Corporation estimates that 20,000 labor-hours will be worked during the year. If overhead is applied on the basis of direct labor-hours, the overhead rate per hour will be: Multiple Choice $2.25 $3.25 $3.45 $4.70