The following information has been gathered for the Harrell Manufacturing Company for its fiscal year ending December 31:

Actual manufacturing overhead costs	$	216,500
Actual direct labor hours		55,300
Actual direct labor costs	$	449,000
Estimated manufacturing overhead costs	$	222,780
Estimated direct labor	$	438,000
Estimated direct labor hours		56,400

What is the predetermined manufacturing overhead rate, assuming direct labor cost is used as the activity base?

49.6%

48.2%

49.4%

50.9%