Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Do not round your intermediate calculations. 
Definitions:
Entrepreneurial Talent
The unique set of abilities, creativity and initiative needed to identify market opportunities and create new businesses.
Implicit Costs
The opportunity costs of using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.
Implicit Cost
The opportunity cost equal to what a firm must give up in order to use resources that it already owns, without directly paying for them.
Leasing
A contractual arrangement where one party (the lessor) grants another party (the lessee) the right to use an asset for a specified period in return for regular payments.
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