Katie Enterprises reports the year-end information from 20X8 as follows: Sales (70,000 units) $560,000 Cost of goods sold 210,000 Gross margin 350,000 Operating expenses 200,000 Operating income $ 150,000. Katie is developing the 20X9 budget. In 20X9 the company would like to increase selling prices by 4%, and as a result expects a decrease in sales volume of 10%. All other operating expenses are expected to remain constant. Assume that COGS is a variable cost and that operating expenses are a fixed cost. What is budgeted operating income for 20X9?