Hepburn Clinic uses client-visits as its measure of activity. During July, the clinic budgeted for 3,200 client-visits, but its actual level of activity was 3,180 client-visits. The clinic has provided the following data concerning the formulas to be used in its budgeting for July: Fixed element per month Variable element per client-visit Revenue $45.60 Personnel expenses $37,300 $13.30 Medical supplies 1,100 8.50 Occupancy expenses 9,800 2.40 Administrative expenses 4,100 0.10 Total expenses $52,300 $24.30 The net operating income in the planning budget for July would be closest to:

$22,183

$21,906

$15,434

$15,860