Harris Fabrics computes its plantwide predetermined overhead rate annually based on direct labor-hours. At the beginning of the year, it estimated 30,000 direct labor-hours would be required for the period's estimated level of production. The company also estimated $542,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per direct faborhour. Harris's actual manufacturing overhead cost for the year was $720,308 and its actual total direct labor was 30,500 hours. Required: Compute the company's plantwide predetermined overhead rate. Note: Round your answer to 2 decimal places