During its first year of operations, Silverman Company paid $11,860 for direct materials and $10,900 for production workers' wages. Lease payments and utilities on the production facilities amounted to $9,900 while general, selling, and administrative expenses totaled $3,600. The company produced 7,100 units and sold 4,400 units at a price of $7.10 a unit. What is the amount of gross margin for the first year? Multiple Choice $ 31,240 O $12,420 $8,480 O $11,000