Carol's Chocolate Company has prepared its third quarter budget and provided the following data: The cash balance on June 30 is projected to be $5,200. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the ending projected cash balance before financing for August. A. $5,000 B. $9,558 C. $(5,442) D. $49,700