Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: May June Manufacturing costs (1) Insurance expense (2) Depreciation expense April $155,200 1,120 2,010 540 $196,500 1,120 2,010 $215,500 1,120 2,010 Property tax expense (3) 540 540 (1) of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. (2) Insurance expense is $1,120 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). (3) Property tax is paid once a year in November. The cash payments expected for Finch Company in the month of May are a. $224,975 b. $186,175 c. $38,800 d. $147,375