[The following information applies to the questions displayed below] Hickory Company manufactures two products-15,000 units of Product Y and 7,000 units of Product Z. The company uses a planwide overhead rate based on direct labor-hours. It is considering implementing an activity-based costing (ABC) system that allocates all \$696,000 of its manufacturing overhead to four cost pools. The following additional information is available for the company as a whole and for Products Y and Z : 3. What is the activity rate for the Machining activity cost pool? Note: Round your answer to 2 decimal places