Logan Products computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 40,000 direct labor-hours would be required for the period%u2019s estimated level of production. The company also estimated $466,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. Logan%u2019s actual manufacturing overhead for the year was $713,400 and its actual total direct labor was 41,000 hours.Compute the company%u2019s predetermined overhead rate for the year.