The Equinox Fabrication Plant suffered a fire incident in August, and most of the records for the year were destroyed. The following accounting data for the year were recovered:

Total manufacturing overhead estimated at the beginning of the year	$103,520
Total direct labor costs estimated at the beginning of the year	$185,000
Total direct labor hours estimated at the beginning of the year	3500 direct labor hours
Actual manufacturing overhead costs for the year	$99,570
Actual direct labor costs for the year	$150,000
Actual direct labor hours for the year	2950 direct labor hours

The company bases its manufacturing overhead allocation on the number of direct labor hours. What was the predetermined overhead allocation rate for the year?

A. $1.86

B. $35.09

C. $62.71

D. $29.58