Dagger Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the total estimated manufacturing overhead was $280,500. At the end of the year, actual direct labor-hours for the year were 18,000 hours, manufacturing overhead for the year was underapplied by $12,500, and the actual manufacturing overhead was $273,500. The predetermined overhead rate for the year must have been closest to:

$14.50

$15.16

$13.63

$15.44