Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $312,500 for the year, and machine usage is estimated at 125,000 hours. For the year, $338,450 of overhead costs are incurred and 131,100 hours are used.

Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e.g. 1.25.)

Manufacturing overhead rate		$enter a dollar amount rounded to 2 decimal places	per machine hour