Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for Second Chance. Material Time Loading Charges Charges Technicians' wages and benefits $237,000 Parts manager's salary and benefits $39,100 Office employee's salary and benefits 71,100 8,900 Other overhead 39,500 19,200 Total budgeted costs $347,600 $67,200 The company desires a $34 profit margin per hour of labor and a 21.00% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $384,000. Compute the rate charged per hour of labor. Labor rate $ per hour