You are evaluating the results for the audit of accounts payable in the audit of Beck Industries. You set performance materiality for accounts payable at $45,000. Assuming that the account balance of accounts payable is $400,000, you tested accounts payable amounts totaling $400,000, and found $30,000 in understatements? Assuming that sampling error is calculated as 30% of the direct projection, what is the total estimated misstatement?

$30,000

$400,000

$39,000

$45,000