Exercise 8-7 Cash Budget [LO8-8 of its budgeted cash flows: $ 309,000 $ 279,880 269,830 289,800 from a local bank at a quarterly interest rate of 3% The company may borrow any of $10,000 and may borrow any amount n amount at the beginning of any quarter and may repay its loans, or any part of its loans, at the end of any quarter Interest payments are due on any principal at the time it is repaid. For simplicity, assume that interest is not compounded Prepare the company's cash budget for the upcoming fiscal year. (Repayments, and interest, should be indicated by a minus sign.) 1st 3rd 4th Year S 34,000S 10,000 11,000 11,000118,000