Charming Paper Company sells to the 12 accounts listed here. Receivable Balance Average Age of the Account Account Outstanding Over the Last Year ABCDEFGHHOKL $ 68,000 150,000 24 44 72,500 17 23,200 60 50,600 42 272,000 39 30,200 23 342,000 71 I 42,200 38 90,200 53 302,000 60,500 19 35 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 14.50 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could qualify. Maximum loan amount b. Determine how much one month's interest expense would be on the loan balance determined in part a. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Interest expense