After conducting a market research study, Abeer Factory decided to produce a new perfume. It is estimated that the new perfume can be sold at a target price of $240. The annual target sales volume for the perfume is 20,000 bottles. Abeer Factory has target operating income of 20% of sales. What is the target operating income?

a. $960,000

b. $3,840,000

c. $4,800,000

d. $5,760,000