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, Kennel budgeted for 3,500 tenant-days, but its actual level of activity was 3,480 tenant-days. 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		$30.00
Wages and salaries	$2,500	$6.00
Food and supplies	700	10.80
Facility expenses	7,500	3.00
Administrative expenses	7,300	0.60
Total expenses	$18,000	$20.40

Actual results for May:

Revenue	$107,280
Wages and salaries	$23,450
Food and supplies	$36,785
Facility expenses	$19,200
Administrative expenses	$9,130

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

$18,715

$18,621

$15,408

$15,600