3. McCoy Corporation manufactures a computer monitor. Shown below is McCoy's cost structure: Variable cost per Total fixed cost for the monitor year Manufacturing cost $ 75.20 $ 912,000 Selling and administrative $ 14.60 $ 456,000 In its first year of operations, McCoy produced 100,000 monitors but only sold 95,000. McCoy's gross margin in this first year was $2,629,600. McCoy's contribution margin in this first year was $2,109,000. Under variable costing, what is McCoy's net operating income for its first year