McCoy Corporation manufactures a computer monitor. Shown below is McCoy's cost structure: Manufacturing cost Selling and administrative monitor Variable cost per Total fixed cost for the year $912,000 $456,000 $75.20 $14.60 In its first year of operations, McCoy produced 100,000 monitors but only sold 95,000. McCoy's gross margin in this first year was $2,629,600. McCoy's contribution margin in this first year was $2,109,000. Under absorption costing, what is McCoy's net operating income for its first year? Multiple Choice $786,600