Greenwood Company manufactures two products-13,000 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 Pool Machining Machine setups Production design General factory Machining Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Product Y 7,900 40 Estimated Overhead Cost $ 238,800 Product Z 4,100 150 Activity Measure Number of setups Number of products 1 1 Direct labor-hours 7,900 7,100 Expected Activity 12,000 MHS $ 93,100 190 setups $ 83,000 2 products $ 373,500 15,000 DLHS Foundational 4-1 (Algo) Required: 1. What is the company's plantwide overhead rate? (Round your answer to 2 decimal places.)