DRX Company has the following estimated costs for next year: Direct materials Direct labor Sales commissions Salary of production supervisor Indirect materials Advertising expense Rent on factory equipment $15,000 $55,000 $75,000 $35,000 $5,000 $11,000 $16,000 DRX estimates that 10,000 direct labor and 16,000 machine-hours will be worked during the year. If overhead is applied on the basis of machine-hours, what will be the overhead rate per hour? (Show your work)