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

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

A $ $69,40020$

B $140,00044$

C $78,90017$

D $21,50061$

E $50,80043$

F $261,00037$

G $39,20024$

H $369,00071$

I $44,70034$

J $90,80053$

K $223,00020$

L $68,90035$

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 $9\mathrm{.}50$ percent, and Capital charges $3\mathrm{.}50$ 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.