Cypress Company repairs and services air conditioning units in condominium buildings. For the most recent year, the repair technicians' wages were $720,000, fringe benefits for the repair technicians were $160,000, and overhead was $120,000. Cypress desires a profit margin of $80 per labor hour. The material loading charge is 40% of invoice cost. The company estimates that 5,000 hours will be worked this year. What is Cypress Companys labor charge per hour?