Dejarnette Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: 
The predetermined overhead rate is closest to:
Definitions:
Treasury Bond
A Treasury bond is a long-term government debt security with a maturity of more than ten years, issued by the U.S. Department of the Treasury, and is backed by the U.S. government's credit.
Current Yield
The annual income (interest or dividends) divided by the current price of the security, often used to measure the return on investment of bonds.
Coupon Rate
The interest rate the issuer of a bond agrees to pay annually to the holder, expressed as a percentage of the bond's face value.
Quoted
Refers to stating the current price of a stock, bond, commodity, or any financial instrument, or the most recent bid and ask prices available.
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