3 During its first year of operations, Silverman Company paid $11.440 for direct materials and $9.900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,900 while general, selling, and administrative expenses totaled $4,400. The company produced 5,600 units and sold 3,400 units at a price of $7.90 a unit. What is the amount of gross margin for the first year? Multiple Choice 511880 $26,860 $8.500 $5.520