Payne Company provided the following information relevant to its inventory sales and purchases for December Year 1 and the first quarter of Year 2: Dec. Year Jan. Year 2 Feb. Year 2 Mar. Year 2 1 (Actual) $60,000 (Budgeted) $ 120,000 (Budgeted) $ 160,000 (Budgeted) $ 100,000 Cost of goods sold Desired ending inventory levels are 25% of the following month's projected cost of goods sold. The company purchases all inventory on account. January Year 2 budgeted purchases are $190,000. The normal schedule for inventory payments is 60% payment in month of purchase and 40% payment in month following purchase. Budgeted cash payments for inventory in February Year 2 would be