Galante Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, the Kennel budgeted for 4,000 tenant-days, but its actual level of activity was 3,980 tenant-days. The Kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May:

Data used in budgeting:

	Fixed element per month	Variable element per tenant-day
Revenue		$30.50
Wages and salaries	$3,000	$6.50
Expendables	400	11.30
Facility expenses	8,000	3.50
Administrative expenses	7,800	0.50
Total expenses	$19,200	$21.80

Actual results for May:

Revenue	$107,780
Wages and salaries	$23,500
Expendables	$36,790
Facility expenses	$19,250
Administrative expenses	$9,140

The net operating income in the planning budget for May would be closest to:

$19,006

$19,100

$15,600

$15,426