A company's contribution format income statement for last month is given below. 6 Sales (47,000 units X $24 per unit) Variable expenses Contribution margin Fixed expenses Net operating income $1,128,000 789,600 338,400 270, 720 67,680 $ The company considers renovating its operations by purchasing a new machine that would reduce variable expenses by $7.20 per unit. However, fixed expenses would increase to a total of $609,120 each month. Using the new machine would not cause a change in monthly sales quantity or price per unit. What would the company's margin of safety in dollars be if it purchases and uses the new machine? Multiple Choice