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 ........ $3.01 per machine hour Estimated total manufacturing overhead $1,058,040 36,000 hrs The predetermined overhead rate for the recently completed year was closest to Select one: O a $3.01 per machine hour O b. 532.40 per machine hour O c532.81 per machine hour O d. 529.39 per machine-hour