Finch Company began its operations on March 31 of the current year. Finch has the following projected costs:

	April	May	June
Manufacturing costs*	$157,900	$196,200	$208,900
Insurance expense**	1,070	1,070	1,070
Depreciation expense	2,000	2,000	2,000
Property tax expense***	580	580	580

* Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $1,070 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November.

The cash payments expected for Finch Company in the month of April are

a.$157,900

b.$118,425

c.$139,768

d.$121,635