Your company bought a small crane. It cost $ 75,000. The IRS dictates a 15 year lifecycle. After the 15 years it will have a salvage value of $8,000. Your company expects to utilize it 60% of the work time. You company works a 40 hour week.

What would the base billable rate for this crane be to break even on its purchase cost using strait-line depreciation. (Ignore maintenance costs, replacement costs and profit)

(Answer format is $ X.XX per Hour)