Marigold Custom Electronics (MCE) 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. Time Charges $140,700 Material Loading Charges Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs 30,820 18,760 $190,280 $33,200 19,300 45,000 $97.500 The company has budgeted for 6,700 hours of technician time during the coming year. It desires a $39 profit margin per hour of labor and an 80% proht on parts. It estimates the total invoice cost of parts and materials in 2020 will be $750,000 (a) Compute the rate charged per hour of labor. (Round answer to 2 decimal places, eg. 10,50.)