The following budget information is available for Crescent Company for January Year 2: Sales Cost of goods sold Utilities expense Administrative salaries Sales commissions Advertising Depreciation on store equipment Rent on administration building Miscellaneous administrative expenses Percentage of sales on credit $800,000 540,000 2,500 100,000 5% of Sales 20,000 50,000 60,000 10,000 80 % All operating expenses are paid in cash in the month incurred. The amount of expected cash outflow for selling and administrative expenses would be