Required information Skip to question Greenwood Company manufactures two products13,000 units of Product Y and 5,000 units of Product Z. The company uses a plantwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z: Activity Cost Pool Activity Measure Estimated Overhead Cost Expected Activity Machining Machine-hours $ 231,600 12,000 MHs Machine setups Number of setups $ 55,900 130 setups Production design Number of products $ 77,000 2 products General factory Direct labor-hours $ 364,500 15,000 DLHs Activity Measure Product Y Product Z Machining 7,300 4,700 Number of setups 40 90 Number of products 1 1 Direct labor-hours 7,300 7,700 3. What is the activity rate for the Machining activity cost pool? (Round your answer to 2 decimal places.)