Below are the forecasted receipts and cash payments from Columbia Company for the first four months of the year: January Budgeted Cash Collections Budgeted Cash Payments: Operating Expenses Dividends Equipment Purchases Total Budgeted Cash Payments $511,000 February $945,000 March $159,000 April $964,000 $328,000 $927,000 $343,000 $453,000 $336,000 $746,000 $328,000 $1,263,000 $1,089,000 $453,000 On January 1, Columbia Company had a cash balance of $115,000. Columbia Company implemented a new policy this year mandating a cash balance of at least $307,000 at the end of each month and using any surplus to pay down loans. How much money must Columbia Company plan to borrow in February?