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XYZ Company uses the high-low method to analyze mixed costs. During the year, the highest level of activity was in May and the lowest level of activity was in February In February, the company worked 11,00 hours and had a total cost of $46,300. In May, the company worked 27,000 hours and had a total cost of $110,300 What is the estimated total costat an operating level of 16,000 hours? Select one: O a $70,300 O b. $74,300 OC.166,300 ed. $47,550 De None of the answers given