Woofter Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During January, the company budgeted for 7,600 units, but its actual level of activity was 7,560 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for January: 
-The net operating income in the flexible budget for January would be closest to:
Definitions:
Working Capital
The difference between a company's current assets and current liabilities, indicating the amount of liquid assets available for day-to-day operations.
Incremental Net Income
Net income resulting from a particular action or decision, calculated as the difference in total net income if the action is taken versus if it is not.
Tax Rate
The percentage at which an individual or corporation is taxed by the government on income or profits.
After-Tax Discount Rate
The discount rate used in capital budgeting that accounts for the effects of income tax.
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