Valley Corporation held the following items at 12/31/17:

Currency and coins	$5,850
Balance in checking account	$23,400
Customer checks waiting to be deposited	$10,800
Treasury bills, purchased on 9/1/17, mature on 3/1/18	$41,200

What amount will Valley include in its year-end balance sheet as cash and cash equivalents"?

a. $23,400

b. $29,250

c. $40,050

d. $81,250