Given the following cost and activity observations for Bounty Company's utilities, use the high-low method to determine Bounty's variable utilities cost per machine hour. Round your answer to the nearest cent.

	Cost	Machine Hours
March	$3,112	14,734
April	2,610	10,315
May	2,808	11,947
June	3,821	18,286

a.$1.02

b.$0.15

c.$1.06

d.$1.52