Pharoah Company manufactures dog food for distribution in Washington, Oregon, and California. A dog food distributor from Florida has approached Pharoah and offered to purchase 246000 pounds of dog food for $1.40 per pound. Pharoah can produce 2012000 pounds of dog food per year, and its results for last year are as follows: Sales (1826000 at $1.65) $3012900 Variable costs 1095600 Contribution margin 1917300 Fixed costs 796000 Operating income $1121300 If Pharoah accepts the offer, it will only be able to sell 1766000 pounds of dog food at the regular price due to its capacity constraints. What will Pharoah's total operating income be next year if it accepts the offer? $1366700 $1255100 $2051100 $1316600