A company's flexible budget for 12,000 units of production showed sales, $48,000; variable costs, $18,000; and fixed costs, $16,000. The net income you would expect the company to earn if it produces and sells 15,000 units is:

Select one:

a.$ -0-.

b. $14,000

c. $17,500.

d. $21,500

e. $26,000.