Sheridan Painting Service has budgeted the following time and material for 2022 : Sheridan budgets 4.000 hours of paint time in 2022 and will charge a profit of $12.00 per hour in addition to a 20% markup on the cost of paint. On February 15, 2022, Sheridan is asked to prepare a price estimate to paint a small building. Sheridan estimates that this job will take 12 labor hours and $460.00 in paint. Compute the labor rate for 2022 . (Round answer to 2 decimal ploces, e.g. 52.75.) Libor rate Compute the material loading charge rate for 2022 Material loading charge 89 Prepare a time-and-material price estimate for painting the building. (Round answers to 2 decimal places, e.g. 52.75.)