During its first year of operations, Silverman Company paid $7,000 for direct materials and $9,500 for production workers' wages. Lease payments and utilities on the production facilities amounted to $8,500 while general, selling, and administrative expenses totaled $4,000. The company produced 5.000 units and sold 3,000 units at a price of $7.50 a unit. What is Silverman's cost of goods sold for the year? Multiple Choice $15,000 $25,000 $12,300 $20,500