Mitchell Corp, is estimating the following purchases in the year 2021: March purchases =$800,000 April purchases =$500,000 May purchases =$700,000 The company also estimates that it will pay 70% of the purchases in the month of purchase and 30% in the month after purchase. What are the estimated cash.payments for the month of May? $710,000 $640,000 $460,000 None of the answers are correct. $760,000