Calculation: Graphite Inc. makes and sells pencils for $0.10 each. Production of pencils costs Graphite $0.03 for each pencil: $0.02 of fixed manufacturing costs and $0.01 of variable manufacturing costs. The company normally produces 1,000,000 pencils for the year. During the current year, Graphite sells 750,000 pencils. How much fixed manufacturing cost will be on Graphite's Absorption Costing Income Statement? Use only numbers to answer (no commas or $ signs). You may use decimals