At January 1, 2020, Marigold Corp. has beginning inventory of 3000 surfboards. Marigold estimates it will sell 7000 units during the first quarter of 2020 with a 12% increase in sales each quarter. Marigold'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 2020? $1,425,000 $8,781 O $1,317,120 $375,000