During its first year of operations, Silverman Company paid $11,065 for direct materials and $11,200 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,200 while general, selling, and administrative expenses totaled $3,300. The company produced 7,550 units and sold 4,700 units at a price of $6.80 a unit.

What is Silverman's cost of goods sold for the year? (Do not round intermediate calculations.)

$32,465 $15,915 $20,210

$25,565