Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $20,400 direct labor S 12.240, and manufactu ng overhead $16,320 As of January 1 Job No 49 had been completed at a cost of 91,800 and was part of finished goods inventory. There was a15,300 balance in the Raw Materials Inventory account. During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $124,440 and $161,160, respectively. The following additional events occurred during the month 1. Purchased additional raw materials of $91,800 on account. 2. Incurred factory labor costs of $71,400, Of this amount $16,320 related to employer payroll taxes. 3. Incurred manufacturng overhead costs as follows: ndirect matenals17,340; ndirect labor S20,400; depreciation expense on equipment $12,240; and vanous other manufactunng overhead costs on account S 16,320. 4. Assigned direct materials and direct labor to jobs as follows Job No. Direct Materials Direct Labor 51 52 $10,200 39,780 30,600 $5,100 25,500 20,400 Celculate the predetermined overhead rate for 2017, assuming Lott Company estimates total manufacturing overhead costs of $855,800, direct labor costs of $714,000, and direct labor hours of 20,400 for the year. (Round answer to the nearest whole percent, e.g. 25%.)