The McGraw Company is accumulating data to be used in preparing its annual profit plan for the coming year. The cost behavior pattern of the maintenance costs must be determined. The accounting staff has suggested that linear regression be employed to derive an equation in the form of - + bx for maintenance costs. Data regarding the maintenance hours and costs for last year and the results of the regression analysis are as follows: (CMA adapted) January February March April May June July August September October November December Sum Average Hours of Activity 600 660 840 600 1,040 670 660 1,080 1,010 970 750 720 9,600 800 Maintenance Costa $ 4,560 3,360 3,960 3,180 4,710 3,320 3,390 4,830 4,620 4,410 3,660 3,520 $ 47,520 3,960 1,773.50 2.7331 557.023 0.68070 A coefficient B coefficient Standard error of the a coefficient Standard error of the b coefficient Standard error of the estimate R2 T-value a T-value b 405.915 0.61718 3.184 4.015 What is the fixed cost per month using the high low method to estimate the cost equation? Multiple Choice $4,460 $8.440 $16,620 O $4,224