True Blue Stores had a beginning accounts payable balance of $87,300 and an ending accounts payable balance of $79,460. Sales for the period were $702,000, and costs of goods sold were $423,600. What is the payables turnover rate?

Multiple Choice:

A. 9.28 times

B. 8.23 times

C. 7.01 times

D. 5.08 times

E. 6.98 times