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	$ 3.30	per machine-hour
Estimated total fixed manufacturing overhead	$ 838,700

The predetermined overhead rate for the recently completed year was closest to:

$8.66 per machine-hour

$6.73 per machine-hour

$14.85 per machine-hour

$9.90 per machine-hour