Below are the forecasted cash receipts and cash payments for Rasband Company for the first four months of the year: January February March April Budgeted Cash $100,000 $90,000 $95,000 $126,000 Collections Budgeted Cash Payments: Operating $140,000 $105,000 $92,000 $115,000 Expenses Dividends $10,000 Equipment $40,000 Purchases Total Budgeted $140,000 $115,000 $132,000 $115,000 Cash Payments On January 1, Rasband Company had a cash balance of $50,000. Rasband Company has a policy of maintaining a cash balance of at least $10,000 at the end of each month and using any surplus cash to pay down loans. How much must Rasband Company plan to borrow in March? $25,000 $45,000 $30,000 O $37,000 O $11,000