Duffy Corp. has provided a part of its budget for the second quarter: Apr May Jun Cash collections $42,000 $42,000 $40,000 Cash payments Purchases of direct materials 7,000 6,000 4,600 20,000 6,000 6,000 4,000 6,000 6,000 Operating expenses Capital expenditures The cash balance on April 1 is $14,000. Assume that there will be no financing transactions or costs during the quarter. Calculate the projected cash balance at the end of April OA. $72,400 OB. $64,400 OC, $56,000 O D. $40,000