Market Street Company reported the following balances: Invoice Cost of Purchases $4,000,000 Purchase Returns and Allowances 700,000 Purchase Discounts Received 100,000 Transportation Cost (Freight-in) 240,000 What is the company's net cost of purchases? A) $2,960,000 B) $3,440,000 C) $5,040,000 D) $3,200.000