ABC Company uses a pre-determined overhead rate based on direct labor hours to apply overhead to jobs. At the beginning of 2018, the company estimated the following costs would be incurred: 96,000 (8,000 hours expected) 15,000 30,000 18,000 depreciation on factory equipment .. 9,000 14,000 33,000 28,500 45% of the utilities relate to the administrative office buildings while 55% of the utilities relate to the factory. Calculate ABC Company's pre-determined overhead rate based on direct labor hours. List your answer with two places after the decimal point Ci.e., $7.63)