Hykes Corporation's manufacturing overhead includes $4.80 per machine-hour for supplies; $4.80 per machine-hour for indirect labor, $59,800 per period for salaries; and $53,950 per period for depreciation. Required: Determine the predetermined overhead rate if the denominator level of activity is 3,500 machine-hours. (Round your answer to 2 decimal places.) Predetermined overhead rate

Hykes Corporation's manufacturing overhead inciudes $4.80 per machine-hour for supplies, $4.80 per machine-hour for indirect labor: $59,800 per period for salaries, and $53,950 per period for depreciation Required: Determine the predetermined overhead rate if the denominator level of activity is 3,500 machine-hours (Round your onswer to 2 decimal places.)