Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below: Estimated machine-hours Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead 72,200 $3.50 per machine-hour $838,770 The predetermined overhead rate for the recently completed year was closest to: $8.61 per machine-hour $15.12 per machine-hour $6.61 per machine-hour $10.50 per machine-hour