[The following information applies to the questions displayed below.] MarineCo, Inc., manufactures outboard motors and an assortment of other marine equipment. The company uses a job-order costing system. Normal costing is used, and manufacturing overhead is applied on the basis of machine hours. Estimated manufacturing overhead for the year is $1,537,200, and management estimates the firms practical capacity at 73,200 machine hours.

Required: 1. Calculate MarineCos predetermined overhead rate for the year.