A Company Estimates That Overhead Costs for the Next Year $\bold{\text{(Round your answer to two decimal places.)}}$

Multiple Choice

A company estimates that overhead costs for the next year will be $8,320,000 for indirect labor and $155,500 for factory utilities.The company uses machine hours as its overhead allocation base.If 400,000 machine hours are planned for this next year,what is the company's plantwide overhead rate? $\bold{\text{(Round your answer to two decimal places.) }}$

A) $0.05 per machine hour.
B) $21.19 per machine hour.
C) $20.80 per machine hour.
D) $0.39 per machine hour.
E) $2.57 per machine hour.