Jimmy is a manager at Jims Ltd. He uses the high-low method to estimate electricity cost, which varies in relation to machine hours. Based on the following data, how would the cost function be stated (approximately) if X is the number of machine hours? Use 4 decimal points for variable cost. Select one: $300 + $0.98X $281.09 + $1.000X $301 + $0.97X $298.95 + $1.005X