Colson Company has a line of credit with Federal Bank, Colson can borrow up to $463,500 at any time over the course of the calendar year. The following table shows the prime rate expressed as an annual percentage along with the omounts borrowed and repaid during the first four months of the year. Colson agreed to poy interest at an annual rate equal to 2.50 percent obove the bank's peime rate. Funds are borrowed or repaid on the first day of each month. Interest is payable in cash on the last day of the month. The interest rate is applied to the outstanding monthly balance. For example, Colson pays 6.50 percent (4.00 percent +2.50 percent) annual interest on $78,300 for the month of January. Required: a. Compute the amount of interest that Colson will pay on the line of credit for the first four months of the year. b. Compute the amount of Colson's liability at the end of each of the first four months. Complete this question by entering your answers in the tabs below. Compute the amount of interest that Colson wili pay on the line of creda for the first four months of the year: Note: Round vour answers to the nearest whole doliser