Vollmer Manufacturing makes three materials for sale. The materials are processed by two machines: Machine A and Machine B. The times (in minutes) required by each machine are as follows:Component Machine A Machine B1 6 42 4 53 4 2Machine A is available for 120 hours, and Machine B for 110 hours. Due to partnership agreements and regulations, no more than 200 units of component 3 can be sold, but up to 1,000 units of each of the other components can be sold. Vollmer assumes all material produced will be sold. The company already has an order for 600 units of component 1 that must be satisfied. The profit contributions for components 1, 2, and 3 are $8/lb, $6/lb, and $5/lb, respectively.1. If time available on Machine A were reduced by 1 minute (all other requirements and limits stay the same as in original model), then what would be the maximum possible profit?(Express answer in $, rounded to 2 decimal places)