Use the "percent of sales method" of preparing pro forma financial statements to determine the projection for next year's accounts payable. Make the following assumptions: current year's sales are $32,800,000, current year's cost of goods sold is $19,628,000; sales are expected to rise by 25%. The firm's investment in accounts payable in the current year is $3,215,500. The firm's marginal tax rate is 35%. What is the projection for next year's accounts payable