Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information:

Labor rate, including fringe benefits $ 90 per hour

Annual labor hours 7,700 hours

Annual materials purchase $ 1,346,250

Materials purchasing, handling, and storage $ 269,250

Overhead for depreciation, taxes, insurance, etc. $ 847,000

Target profit margin for both labor and materials 20 %

What should Shale set as rate per hour of labor hour?