36. At January 1, 2020, Jake, Inc. has beginning inventory of 4,000 surfboards. Jake estimates it will sell 15,000 units during the first quarter of 2020 with a 10% increase in sales each quarter, Jake's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $200 and is sold for $250 How much is budgeted sales revenue for the third quarter of 2020? a) $18,150 b) $4,537,500 c) $907.500 d) $3,750,000