A buyer had an inventory of $45,000 on June 1 and a planned EOM stock of $51,000. Planned sales for the department were $39,000 and planned markdowns for the month were $3200. As of June 1, the buyer had merchandise onorder of $10,000 at retail to be delivered during the month. Planned initial mark up was 48%. Calculate the buyers OTB at COST as of June 1.