Jackson & BliottLLC (J&E) is budgeting for next year. Much of the work that J & E does relates to repeat business (quarterly and annual tax filings and annual audits ), but the partners also work hard to gain new business. The firmemploys 40 professional accountants -all salaried-and four administrative staff members-all hourly. The following chartshows the number of accountants by role, along with targeted billable hours and billable rates for each level. Target Billable Hours per Person are annual amounts, as the TFC are given annually Number of Target Billable Billable Accountants Hours per Person Rate/ Har Partner 1,300 $155 Manager 1,300 115 Senior 1,900 100 R Staff 1,900 The administrative staff costs the firm, on average, $25 per billable hour. Additionally, miscell aneous supplies usually run $5 per billable hour. Your answer is incorrect Assume J &Es fixed costs are budgeted at $3 6 million for next year. How much will the firm generate in oper ating income if all professionals hit their target billable hours? Operating income 4170809