The following selected data pertain to Phineus Corporation:

Cash operating expenses, July 1-31	$ 175,000
Depreciation	55,000
Merchandise purchases in July	555,000
Estimated payments in July for purchases in June	215,000
Estimated payments in July for purchases prior to June	45,000
Estimated payments in July for purchases in July	40 %

July's cash disbursements are expected to be:

$397,000.

$452,000.

$657,000.

$712,000.

Some other amount.