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 fabor rate for 2022 . (Round answer to 2 decimal places, e.3. 52.75.) Labor rate Compute the material loading charge rate for 2022 Material loading charge Prepare a time-and-material price estimate for painting the building (Round answers to 2 decimal places, e.8. 52.75. )