JNJ Corporation uses a predetermined overhead rate base on machine-hours that it recalculates at the beginning of each year. The company has provided the following data for the most recent year. Estimated total fixed manufacturing overhead from the $ 534,000 beginning of the year Estimated activity level from the beginning of the year 30,000 machine hours Actual total fixed manufacturing overhead Actual activity level $ 487,000 27,400 machine-hours The predetermined overhead rate per machine hour is closest to O$16.23 O $17.77 O $17.80 $19.49