Hickory 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 $745,200 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 Product design General factory Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Activity Measure Machine-hours Number of setups Number of products Direct labor-hours Estimated Overhead Product Y Product Z 7,200 40 4,800 180 1 1 8,200 6,200 Cost $ 242,400 $ 114,400 Expected Activity 12,000 MHS 220 setups. $ 86,000 2 products $ 302,400 14,400 DLHS quired: What is the company's plantwide overhead rate? (Round your answer to 2 decimal places.)