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In a given quarter, a company buys inventories from suppliers in an amount equal to 33% of the following quarter's forecasted sales. Sales of the

In a given quarter, a company buys inventories from suppliers in an amount equal to 33% of the following quarter's forecasted sales. Sales of the first quarter are projected to be $42,480. The company has a payables period of 120 days. Sales of the second quarter are projected to increase at 32.10% from the first, while sales of the third quarter are projected to increase at 12.30% from the second. Assuming a quarter of 90 days, what is total cash payment made in the third quarter for inventory purchases?

A) $19,035

B) $19,536

C) $20,037

D) $20,538

E) $21,039

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