The following income statement is provided for Ramirez Company in 2013:

Sales revenue (3,500 units $21.00 per unit)	$73,500
Cost of goods sold (variable; 3,500 units $9.00 per unit)	(31,500)
Cost of goods sold (fixed)	(5,000)
Gross margin	37,000
Administrative salaries	(7,000)
Depreciation	(5,000)
Supplies (3,500 units $3.00 per unit)	(10,500)
Net income	$14,500

What amount was the company's contribution margin? (Do not round intermediate calculations.)

$14,500

$42,000

$37,000

$31,500