The planned initial markup in a department, as indicated on the merchandise plan, is 42.5%. The planned sales for the month of July are $38,000 with markdowns of $2090. The merchandise plan also indicates that the planned BOM stock for the month is $36,700 and the planned EOM stock is $37,500. As of July 1 the buyer has merchandise on order of $12,000 at retail to be delivered during the month. Calculate the buyers OTB at retail as of July 1.

Select one:

a. $48,700.00

b. $16,611.75

c. $16,151.75

d. $28,890.00

e. $28,090.00