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MPE, Inc. will soon enter a very competitive marketplace in which it will have limited influence over the prices that are charged. Management and consultants are currently working to fine-tune the companys sole service, which hopefully will generate a 12 percent first-year return (profit) on the firms $17,100,000 asset investment. Although the normal return in MPEs industry is 14 percent, executives are willing to accept the lower figure because of various start-up inefficiencies. The following information is available for first-year operations:

Hours of service to be provided: 25,000

Anticipated variable cost per service hour: $21.40

Anticipated fixed cost: $1,840,000 per year

3. Calculate the revenue per hour that MPE must generate in the first year to achieve a(n) 12 percent return. (Round your answer to 2 decimal places.)

Revenue Per Hour