Yelk Garage uses time and materials pricing. It is setting prices for next year using the following information: Labor rate, including fringe benefits Annual labor hours Annual materials purchases Materials purchasing, handling, and storage Overhead for depreciation, taxes, insurance, etc. Target profit margin for both labor and materials $ 68 per hour 2,800 hours $844,000 $ 65,000 $ 89,600 20 % What should Yelk set as the direct labor rate per hour