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Henkes Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 61,000 labor-hours. The estimated variable manufacturing overhead was $11,00 per labor-hour and the estimated total flixed manufacturing overhead was $1,159,000. The actual labor-hours for the year turned out to be 64,600 labor-hours. Required: Compute the company's predetermined overhead rate for the recently completed year. Note: Round your answer to 2 decimal places