The following data is available for Bike Repair Shop for 2020:

Repair technicians wages $360,000

Employee benefits 80,000

Overhead 60,000

Total $500,000

The desired profit margin is $40 per labor hour. The material loading charge is 28% of invoice cost. It is estimated that 5,000 labor hours will be worked in 2021.

What would the Bike labor rate be in 2021 would be?

A.$128

B.$140

C.$112

D.$100