Handy Hiking produces backpacks. In the previous year, its highest and lowest production levels occurred in July and January, respectively. In July, it produced 4,800 backpacks at a total cost of $150,000. In January, it produced 2,257 backpacks at a total cost of $91,500. Using the high/low method, the total estimated fixed cost was Multiple Choice $150,000 $110,421. $39,579. None of the answers is correct