At January 1, 2019, Sheridan Company has beginning inventory of 4000 surfboards. Sheridan estimates it will sell 11000 units during the first quarter of 2019 with a 12% increase in sales each quarter. Sheridans policy is to maintain an ending inventory equal to 25% of the next quarters sales. Each surfboard costs $100 and is sold for $150. How much is budgeted sales revenue for the third quarter of 2019?

$13798.40

$2069760

$562500

2212500