Salah Inc 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 50,000 labor-hours. The estimated variable manufacturing overhead was $2.18 per labor-hour and the estimated total fixed manufacturing overhead was $1,192,360. The actual labor- hours for the year turned out to be 52,600 labor-hours. Calculate predetermined overhead rate for the recently completed year