Tom and Marie have a 30-year $150,000 mortgage with an 8% interest rate convertible monthly. Immediately after the 120th payment, they refinance the mortgage. The interest rate is reduced to 6.5%, convertible monthly, and the term is reduced to 20 years (so there are 10 years of payments remaining). They also make an additional payment of $20,000 at the time of refinancing. Calculate their new monthly payment.

Harris fabrics computes its predetermined overhead rate annually on the basis of direct labor-hours. at the beginning of the year, it estimated that 34,000 direct labor-hours would be required for the period’s estimated level of production. the company also estimated $599,000 of fixed manufacturing overhead expenses for the coming period and variable manufacturing overhead of $3.00 per direct labor-hour. harris's actual manufacturing overhead for the year was $768,234 and its actual total direct labor was 34,500 hours.required: compute the company's predetermined overhead rate for the year. (round your answer to 2 decimal places.)