Electrical costs at one of Rome Corporation's factories are listed below: Machine-Hours March April May June July August September October November 458 423 440 409 426 372 414 431 468 Electrical Cost $ 1,007 $ 934 $ 979 $ 902 $ 952 $ 822 $ 926 $ 949 $ 1,025 $ Management believes that electrical cost is a mixed cost that depends on machine-hours. Using the high-low method, the estimate of the variable component of electrical cost per machine-hour is closest to: Multiple Choice $2.11 $1.80 $2.21 $0.47