Question 29 Not yet answered Marina Hotel is a 170-room hotel and below is the forecasted Revenues for the upcoming three months. You are planning to renovate the hotel, which will cost $1,200,000 Points out of 5.00 Flag question Rooms Sold Rooms Revenue April 4080 $489,600 May 3570 $392,700 June 3468 $364,140 Cash sales are estimated to be 30 percent of total sales, and cash from credit sales are received after one month. Credit sales from previous month (March) was $360,000. Variable costs are estimated to be 25 percent of total sales. . Fixed costs are estimated to be $125,000 a month. Hotel has no loan payments. Renovation cost ($1,200,000) will be paid half in May and rest in June. Beginning cash balance of Cash is $450,000. What will be Total Cash Outflow in May? Select one O a $223,175 b. $823,175 o c. $247,400 o d. $216,035