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 72,600 Estimated variable manufacturing overhead Estimated total fixed manufacturing overhead $ 3.40 per machine-hour $ 838,710 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $10.20 per machine-hour $8.66 per machine-hour $14.95 per machine-hour $6.69 per machine-hour