For the first quarter of the year, a company has projected sales of $4,015. Sales in the subsequent quarters are projected to increase at 11.70% per quarter. The company has a payables period of 56 days. The company purchases inventory in each quarter equal to 40% of projected sales for the following quarter. Assuming a quarter equals 90 days, how much total cash payments are made in the first quarter for inventory purchases? $1,509 $1,551 $1,593 $1,635 $1,677