The following data is available for Sheffield Repair Shop for 2022: Repair technicians' wages $440000 Employee benefits Overhead Total 90000 50000 $580000 The desired profit margin is $40 per labor hour. The material loading charge is 40% of invoice cost. It is estimated that 5000 labor hours will be worked in 2022. In January 2022, Sheffield repairs a bicycle that uses parts of $120. Its material loading charge on this repair would be