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3 . Assume that Calamar Corp. has sales of $ 7 . 5 million and accounts payable is 0 . 0 9 9 9 %

3. Assume that Calamar Corp. has sales of $7.5 million and accounts payable is 0.0999% of total sale of the current year. The corporation utilizes the percent-of-sales method of financial forecasting. If Calamar is expected to generate sales to increase by 11.11% next year, what will the firm's accounts payable be?

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