A company's contribution format income statement for last month is given below: Sales (48,000 units * $24 per unit) Variable expenses Contribution margin Fixed expenses Net operating income $1,152,000 806,400 345,600 276,480 69,120 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 $622,080 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