Hewel Limited is a manufacturing business that makes products to order for the fishing industry. It operates a factory-wide overhead allocation policy on the basis of direct labour cost. The budgeted overheads for 2020 are 622,041. The budgeted machine hours are 100,000. The budgeted direct labour hours are 15,000 with an expected cost of 76,835. The company expects to sell goods with a value of 2.5m. What is the overhead allocation rate for Hewel Limited for 2020? Give your answer to 2 decimal places.