Concord Custom Electronics (CCE) sells and installs complete security, computer, audio, and video systems for homes, On newly constructed homes it provides bids using time-and-material pricing. The following budgeted cost data are available The company has budgeted for 5,100 hours of technician time during the coming ycar. It desires a $38 proft margin per hour of labor and an 80. profit on parts. It estimates the total invoice cost of parts and materials in 2020 will be $7,42,000. (a) Compute the rate charged per hiour of labon (Round onswer to 2 decimal ploces, ey. 10.50)