Blue Spruce, Inc. provided the following information: March April May Projected merchandise purchases $67,000 $77,500 $81,500 Blue Spruce pays for 40% of merchandise purchases in the month of the purchase and 60% in the following month. General operating expenses are budgeted to be $24,000 per month of which depreciation is $2,300 of this amount. Blue Spruce pays operating expenses in the month incurred. Calculate Blue Spruce's budgeted cash disbursements for May. Budgeted cash disbursements $