P&M Industries has projected quarterly sales for the coming year, starting with Quarter 1, of $6,200, $6,500, $6,300, an

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P&M Industries has projected quarterly sales for the coming
year, starting with Quarter 1, of $6,200, $6,500, $6,300, and
$6,700, respectively. Sales in the year following this one are
projected to be 4 percent greater in each quarter. Assume the
company places orders during each quarter equal to 74 percent of
projected sales for the next quarter. How much will the firm pay
its suppliers in Q3 if the firm has a 30-day payables period?
Multiple Choice
$4,859.33
$4,826.67
$4,603.18
$4,890.22
$4,711.46