Harrs Fabrics computes its plantwide predetermined overhead rate annualy on the basis of direct labor-hours. At the beginning of the Year, it estimated that 38,000 direct labor-hours would be required for the period's estimated level of production. The cornpany also estimated $516,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $300 per direct labor-hour Harris's actual manufacturing overhead cost for the year was $703739 and its actual total direct labor was 38,500 hours. Required: Compute the company's plantwide predetermined overhead rate for the year (Round your answer to 2 decimal places.)