Buckeye Company has provided the following data for maintenance cost: Machine Hours Maintenance cost Prior Yearl 12,500 $ 27,000 Current Year 15,000 $31,000 Using the high-low method, what is the cost formula for maintenance cost? Multiple Choice $21,625 per year plus $0.625 per machine hour. $7,000 per year plus $1.60 per machine hour. $27,000 per year plus $1.60 per machine hour. $7,000 per year plus $0.625 per machine hour