Granite Company uses a job order cost system. The company applies manufacturing overhead to jobs using a predetermined overhead rate based on direct labor-hours. Last year, manufacturing overhead and direct labor-hours were estimated at $150,000 and 24,000 hours respectively, for the year. At the end of the year, it was determined that the company worked 23,500 direct labor-hours for the year, and incurred $148,000 in actual manufacturing overhead costs. In June, Job #315 was completed. Materials costs on the job totaled $12,500 and labor costs totaled $3,600 (at $6 per hour for 600 hours). Determine the predetermined overhead rate for the year.