Coronado Co. incurs $535000 of overhead costs each year in its three main departments, setup ($44000), machining ($391000), and packing ($100000). The setup department performs 50 setups per year, the machining department works 8000 hours per year, and the packing department packs 200 orders per year. Information about Coronado's 2 products is as follows:

Product OneProduct TwoNumber of setups3020Machining hours32004800Orders packed12080

Using ABC, how much overhead is assigned to Product One each year?

$535000

$292200

$267500

$242800