Sheffield's budgets 5,500 hours of repair time in 2022 and will bill a profit of $10 per labor hour along with a 25% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $110,000. On January 5, 2022, Sheffield's is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sheffield's estimates that this job will consume 4 hours of labor and $220 in parts. Compute the labor rate for Sheffield's Electronic Repair Shop for the year 2022. (Round answer to 0 decimal places, e.g. 10.) Labor rate $ per hour eTextbook and Media Compute the material loading charge percentage for Sheffield's Electronic Repair Shop for the year 2022. Material loading percentage %