1.Table 5-1

Iowa Diagnostic Center's projected Patient Revenues for the first six months of 2013 are given below:

Jan. $200,000 April $400,000

Feb. $240,000 May $320,000

Mar. $280,000 June $320,000

25% of patient revenues are collected in cash at time service is provided, 50% are collected in the month following provision of service, and the remaining 25% are collected in the second month following provision of the service. Payroll expenses are 75% of that month's revenues. Total other estimated expenses are $60,000/month. The company's cash balance as of February 28, 2013 will be $40,000. Excess cash will be used to retire short term borrowing (if any). Iowa Diagnostic will have no short term borrowing as of February 28, 2013. Assume that the interest rate on short term borrowing is 1% per month. The company must have a minimum cash balance of $25,000 at the beginning of each month. Round all answers to the nearest $100.

Based on the information in Table 5-1, what will be Iowa Diagnostic Center's ending cash balance (before borrowing) in March?(Do not include commas in answer)