Cantor Beverages produces bottled vegan smoothies. As part of the process, Cantor prepares and prints the labels used on the bottles. An outside supplier would provide Cantor with 20,000 pre-printed labels for $5.00 per label. Cantor estimates the company's current average cost of a label is $3.75 based upon the following information: Total cost Direct mate rial $ 30,000 Direct labor $ 12,500 Variable overhead $ 18,750 Fixed overhead - Traceable $ 25,000 Fixed overhead - Allocated $ 7,500 $ 93,750 Outsourcing the labeling department will eliminate 80% of the Fixed overhead - Traceable expenses. Cantor expects to rent the space now available in its facility. For net income to remain constant, compute the MINIMUM rent Cantor would charge a tenant. HINT: Benets = Costs results in no change in income. 0 $5,000 0 $12,000 0 $31,000 0 $40,000 0 None of the other answers are correct