Vanderhyde Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day. During May, the kennel budgeted for 3,390 tenant-days, but its actual level of activity was 3,439 tenant-days. The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for May: Data used in budgeting:

	Fixed element per month			Variable element per tenant-day
Revenue				$	45.00
Wages and salaries	$	5,250		$	8.10
Food and supplies		1,780			15.10
Facility expenses		13,350			6.50
Administrative expenses		11,500			2.20
Total expenses	$	31,880		$	31.90

Actual results for May:

Revenue	$	159,075
Wages and salaries	$	34,511
Foods and supplies	$	52,304
Facility expenses	$	34,634
Administrative expenses	$	18,771

The net operating income in the planning budget for May would be closest to:

$12,529

$18,534

$12,945

$18,998