From the following information compute the machine hour rate in respect 10 for the month of January: Cost of machine $32,000 Estimated scrap value $2,000 Effective working life 10,000 hours Repairs and maintenance over the life period of machine$ 2,500 Standing charges allocated to this machine for January, $400 Power consumed by the machine @ $0.30 per unit, $600 The machine consumes 10 units of power per hour