3. ABCs sales of $530, $500, $630, and $550 for the months of April through July, respectively. The firm collects 20 percent of sales in the month of sale, 40 percent in the month following the month of sale, and 38 percent in the second month following the month of sale. The remaining 2 percent of sales is never collected. How much money does the firm expect to collect in the month of July?