Gargymal Company would like to estimate the variable and foxed components of its electrical costs and has compiled the following data for the last five months of operations. August September October November December Machine Hours 1,000 900 1,500 2,000 1,300 Electrical Cost $1.550 1,510 1,750 1,950 1,670 Using the high-low method of analysis, the estimated variable cost per machine hour for electricity is closest to? Multiple Choice $2.50 $0.40 $1.68