At January 1, 2020, Mercury, Inc. has beginning inventory of 4,000 hats. Mercury estimates it will sell 35,000 units during the first quarter of 2020 with a 10% increase in sales each quarter (not 10% over the first quarter only). Mercury's policy is to maintain an ending inventory equal to 25% of the next quarter's sales. Each hat costs $1 and is sold for $1.50. How much is budgeted sales revenue for the third quarter of 2020? O $57,525 O $63,000 $63,525 $42,350