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 72,500 Estimated variable manufacturing overhead $ 3.10 per machine-hour Estimated total fixed manufacturing overhead $838,780 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $14.67 per machine-hour $6.82 per machine-hour $9.30 per machine-hour $8.64 per machine-hour