Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Round variable cost per unit to two decimal places in your calculations.
Cost Machine Hours
January $52,200 20,000
February 75,000 29,000
March 57,000 22,000
April 64,000 24,500
(A) $2,530
(B) $22,800
(C) $1,600
(D) $50,600
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