Rapid Cov Inc., had the following information relating to 2019 Budgeted factory overhead P 74,800 Actual factory overhead P 78,300 Applied factory overhead P 76,500 Estimated labor hours 44,000 If Rapid Cov decides to use the actual results from 2019 to determine the 2020 overhead rate, what will be the 2020 overhead rate be? (Please disregard the peso/unit sign, just provide the numerical figure with a max of 2 decimal places) O 1.74 O 1.79318 O 1.7 1.78