Golden Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 22,700 hours. At the end of the year, actual direct labor-hours for the year were 21,500 hours, the actual manufacturing overhead for the year was $557,740, and manufacturing overhead for the year was underapplied by $24,540. The estimated manufacturing overhead at the beginning of the year used in the predetermined overhead rate must have been:

$552,520.

$583,366.

$533,200.

$562,960.