Harry Aalbers' Corryong Concreting Limited uses a factory-wide overhead rate and expect to incur the following manufacturing costs for the upcoming year: Direct labour Direct material Overhead $539,000 $400,000 $500,000 Other budgeted data for Corryong Concreting for the coming year includes: Direct labour hours Machine Hours Expected Production (units) 24,000 29,000 100,000 Using Direct Labour Hours as the cost driver, calculate Corrvong Concreting's predetermined overhead rate (round answer to two decimal placed)