During its first year of operations, Silverman Company paid $12,240 for direct materials and $10,700 for production workers wages. Lease payments and utilities on the production facilities amounted to $9,700 while general, selling, and administrative expenses totaled $3,800 The company produced 6,800 units and sold 4,200 units at a price of $7.30 a unit. What is Silverman's cost of goods sold for the year? Multiple Choice $32,640 $26,740 $16,516