Calculate the labor costs for a time and material contract using the following information: The unit price is $48.50 per hour. The contract has a not-to-exceed value of 400 hours and the estimate is 320 hours. The labor will be reimbursed miles traveled at a rate of $0.56 per mile and estimate of 50 miles per day for the duration (30 days).

A

$19,400

B

$15,520

C

$16,360

D

$20,240