During its first year of operations, Silverman Company paid $11,360 for direct materials and $11,100 for production workers' wages. Lease payments and utilities on the production facilities amounted to $10,100 while general, selling, and administrative expenses totaled $3,400. The company produced 7,400 units and sold 4,600 units at a price of $6.90 a unit.

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

$16,075

$32,560

$25,860

$20,240