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During September, the capital expenditure budget indicates a $470000 purchase of equipment. The ending September cash balance from operations is budgeted to be $62000. The

During September, the capital expenditure budget indicates a $470000 purchase of equipment. The ending September cash balance from operations is budgeted to be $62000. The company wants to maintain a minimum cash balance of $30000. What is the minimum cash loan that must be planned to be borrowed from the bank during September?

$408000

$378000

$500000

$440000

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