Shale Remodeling uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits $ 83 per hour Annual labor hours 7,200 hours Annual materials purchase $ 1,296,250 Materials purchasing, handling, and storage $ 311,100 Overhead for depreciation, taxes, insurance, etc. $ 806,400 Target profit margin for both labor and materials 20 % What should Shale set as rate per hour of labor hour ?