4 Help Save & Exit Franklin Company obtained a $130,000 line of credit from the State Bank on January 1, Year 1. The company agreed to accept a variable interest rate that was set at 1% above the bank's prime lending rate. The bank's prime rate of interest and the amounts borrowed or repaid during the first three months of Year 1 are shown in the following table. Assume that Franklin borrows or repays on the first day of each month. Borrowing is shown as a positive amount and repayments are shown as negative amounts indicated by parentheses. 5 oints 204.50.18 1-January 1-February 1-March Amount Borrowed (Repaid) $ 40,000 (15,000) Prime Rate for the Month 4.0% 4.5% eBook 40,000 5.0% Based on this information alone, the amount of interest expense recognized in March would be closest to: (Do not round intermediate calculations. Round your answer to the nearest whole number.) Multiple Choice $244.