Digger Inc. sells a high$-$speed retrieval system for mining information. It provides the following information for the year.BudgetedActualOverhead cost$$1,333,200$$$1,307,200$Machine hours$56,30049,000$Direct labor hours$101,00097,800$Overhead is applied on the basis of direct labor hours.$($a$)$Compute the predetermined overhead rate. $($Round answer to $2$ decimal places, e$.$g$.12\mathrm{.}25.)$Predetermined overhead rate$per direct labor hour