At January 1, 2016. Concord Corporation has beginning inventory of 3000 surfboards. Concord estimates it will sell 10000 units during the first quarter of 2016 with a 12% increase in sales each quarter. Concord's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each surfboard costs $100 and is sold for $150, How much is budgeted sales revenue for the third quarter of 2016? O 1987500 O $1881600 $487500 O $12544.00