Paulson Company had the following estimated costs for 2019: It is known that 40% of the insurance relates to equipment in the administrative offices while 60% of the insurance relates to equipment in the factory. Paulson Company estimates that 25,000 machine hours will be used during 2019 Calculate Paulson Company's pre-determined overhead rate based on machine hours. List your answer with two places after the decimal point (i.e., $7.60)