Shane Johnson owns Supple Company which is into the manufacture of cricket balls. The following information is available for Supple Company: Estimated manufacturing overhead cost $700,000 Actual manufacturing overhead cost $644,000 Estimated machine hours 56,000 Actual machine hours 58,800 Estimated direct labor hours 67,200 Actual direct labor hours 68,500 Estimated direct labor cost $840,000 Actual direct labor cost $863,100 If Supple Company uses direct labor cost to calculate the predetermined overhead rate, what is Supple's predetermined overhead rate (if necessary, round your answer to two decimal places)?