Hickory Furniture Company paid for the following costs during the month of May:           Inventory purchases $ 40,000   Advertising costs   8,000   Delivery costs   2,000     Hickory sold $32,000 of the inventory and has agreed to pay warranty expenses for its customers. These are expected to be $1,600 and occur evenly over the next four months (i.e., starting in June). What is the amount of Hickory’s cash-basis expenses for the month of May?

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