All That Remains Products has projected sales for next year of:

	Q1			Q2			Q3			Q4
Sales	$	76,000		$	79,775		$	86,500		$	93,480

The company places orders each quarter that are 52 percent of the following quarter's sales and has a 60-day payables period. What is the accounts payable balance at the end of the third quarter?

a) $14,993

b) $16,203

c) $13,828

d) $32,406

e) $23,700