3. Camp and Fevurly Financial Planning have forecasted revenues for the first six months of 2021, as shown in the following table. Month Revenue Month Revenue November 2020 $44,160 March 34,224 December 41,400 April 40,553 January 2021 32,200 May 40,755 February 32,788 June 41,400 The firm collects 70% of its sales immediately, 29% one month after the sale, and 1% are written off as bad debts two months after the sale. The firm assumes that wages and benefits paid to clerical personnel will be $9,125 per month while commissions to sales associates average 25% of collectable sales. Each of the two partners is paid $5,000 per month or 20% of net sales, whichever is greater. Com- missions and partner salaries are paid one month after the revenue is earned. Rent expense for their office space is $4,750 per month, and lease expense for office equipment is $920. Utilities average $288 per month, except in May and June when they average only $173. The ending cash balance in December 2020 was $12,000. b. Camp and Fevurly are thinking of obtaining a line of credit from their bank. Based on their forecast for the first six months of the year, what is the minimum amount that would be necessary? Round your answer to the next highest $1,000 and ignore interest charges on short-term debt. (Hint: Look up the ROUNDUP function in the online help.)