Charming Paper Company sells to the $12$ accounts listed here.

Account Receivable Balance Outstanding Average Age of the Account Over the Last Year

A $ $63,40029$

B $165,00043$

C $77,30012$

D $21,60055$

E $50,00042$

F $297,00038$

G $32,20026$

H $349,00069$

I $40,10034$

J $98,50050$

K $229,00023$

L $63,00031$

Capital Financial Corporation will lend $90$ percent against account balances that have averaged $30$ days or less, $80$ percent for account balances between $31$ and $40$ days, and $70$ percent for account balances between $41$ and $45$ days. Customers that take over $45$ days to pay their bills are not considered acceptable accounts for a loan.

The current prime rate is $16\mathrm{.}50$ percent, and Capital charges $4\mathrm{.}50$ percent over prime to Charming as its annual loan rate.

Determine the maximum loan for which Charming Paper Company could qualify.

Determine how much one month$$s interest expense would be on the loan balance determined in part a$.$

Note: Do not round intermediate calculations. Round your final answer to $2$ decimal places.