Pearse 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 December, the kennel budgeted for 3, 000 tenant-days, but its actual level of activity was 2, 980 tenant-days.The kennel has provided the following data concerning the formulas used in its budgeting and its actual results for December: Data used in budgeting: 
Actual results for December: 
The net operating income in the flexible budget for December would be closest to:
Definitions:
Possessory Interest
A right or interest in property that allows the holder physical control or occupancy of the property.
National Bank
A type of bank chartered by the federal government and, among other powers, has the ability to issue notes that serve as currency.
Assigned Right
A right that has been transferred from one party (the assignor) to another (the assignee), typically involving rights to receive payments or benefits.
Holder In Due Course
A person who has acquired a negotiable instrument in a legitimate manner and has rights to enforce it free of certain defenses.
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