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Hazel plans to mow her neighbors' yards to earn money. She charges a base fee of $24 and $8 for every hour she mows. The amount she earns per yard can be represented by the linear function M(t) = 8t + 24. What is the value of M(2), and what is its interpretation?

M(2) = 40; If Hazel mows 2 yards, she will earn $40.
M(2) = 40; If Hazel mows a yard for 2 hours, she will earn $40.
M(2) = 16; If Hazel mows a yard for 2 hours, she will earn $16.
M(2) = 16; If Hazel mows 2 yards, she will earn $16.