SLUGUTIL CreuIL Semester Facilities Hours Cost Spring 250,000 $500,000 2007 Fall 2004 300,000 $530,000 Using the high low method, with student credit hours as the activity driver, what the equation for facilities cost (FC) as a function of student credit hours? FC = $350,000 + $0.60 / student credit hour FC = -$585,100 + $1.67 / student credit hour FC = $1.77 / student credit hour FC = $2 / student credit hour