A company calculates the following cash inflows and outflows for its January Cash Budget: Beginning Cash Balance Cash Collections Cash Available Disbursements: Raw Materials Direct Labor Manufacturing Overhead Selling, General and Admin $20,000 $590,000 $610,000 expenses Total Disbursements $300,000 $150,000 $50,000 $113,000 $613,000 At the beginning of January, the company has no outstanding debt. If this company wants to always have at least $16,000 of cash on hand at the beginning of each month, how much do they need to borrow during for the month of January?