Greenwood Company manufactures two products13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z:

Activity Cost PoolActivity MeasureEstimated Overhead CostExpected ActivityMachiningMachine-hours$ 231,60012,000MHsMachine setupsNumber of setups$ 55,900130setupsProduction designNumber of products$ 77,0002productsGeneral factoryDirect labor-hours$ 364,50015,000DLHs

Activity MeasureProduct YProduct ZMachining7,3004,700Number of setups4090Number of products11Direct labor-hours7,3007,700

Required:

1. What is the companys plantwide overhead rate?(Round your answer to 2 decimal places.)