Yeah, I forgot to suggest he lose the pulse input panel meters if possible, since a small HMI should be the same cost or less, and if he has other things to do with the PLC, then his UI is free. In that case, where he needs the rate in numerical form, I agree, RATE would be the way to go.
But, if he wants to use the panel meters, then I think the pulse dividing is more direct than figuring rate, then translating that back into pulses.