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 72,000 $ 3.40 per machine-hour $ 838,780 The predetermined overhead rate for the recently completed year was closest to: Multiple Choice $8.58 per machine-hour $10.20 per machine-hour $15.05 per machine-hour O $6.64 per machine-hour