Developing and Using a Predetermined Overhead Rate: High$-$Low Cost Estimation $($b$.)$ Assume that the Mattoon Components Company had the following total manufacturing overhead costs and direct labor hours in $2016$ and $2017$ : Use the high$-$low method to develop a cost estimating equation for total manufacturing overhead. $($c$.)$ Develop a predetermined rate for $2018,$ assuming $25,000$ direct labor hours are budgeted for $2018.$ Round answers to two decimal places. per direct labor hour Do not use a negative sign with vour answer.