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In a given quarter, a company buys inventories from suppliers in an amount equal to 43%...

In a given quarter, a company buys inventories from suppliers in an amount equal to 43% of the following quarter's forecasted sales. Sales of the first quarter are projected to be $13,290. The company has a payables period of 90 days. Sales of the second quarter are projected to increase at 23.82% from the first. Total wages, taxes, and other expenses are projected to equal 8.82% of the projected sales. The dividends and interest payments are projected to be $100 per quarter. Assuming a quarter of 90 days, what is the company's total cash payments in the first quarter?

A) $6,288

B) $6,463

C) $6,638

D) $6,812

E) $6,987

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Answer is $6,987

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