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 $ 3.20 per machine-hour $ 838,770 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $6.75 per machine-hour $14.82 per machine-hour $9.60 per machine-hour $8.61 per machine-hour