Mandato Corporation has provided the following data for its two most recent years of operation: 
The net operating income (loss) under absorption costing in Year 2 is closest to:
Definitions:
Managed Portfolio
An investment portfolio that's actively managed by a professional, aiming to achieve specified investment goals.
Alpha
A metric used to measure the performance of an investment relative to a benchmark, reflecting the excess return of the investment compared to the overall market performance.
Time-Weighted Return
A method of calculating investment returns that eliminates the effects of cash flows into and out of the portfolio, focusing solely on the investment's performance.
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