The Miracle Company had 32,000 units in process on December 31, 2016 which was 80% complete as to materials but only 40% complete as to conversion costs. The company's records show 52,000 units were transferred to the Finished Goods Inventory during January 2017. On January 31, 2017, 27,000 units were on hand which were 20% complete as to conversion costs and 70% complete as to materials. What are the equivalent units of production for the conversion costs in January, assuming Miracle uses first-in, first-out (FIFO)?

53,200.

59,000.

44,600.

49,600.