Kennison, inc, has prepared is third quarter budget and provided the following data The cash balance on June 30 is projested to be $5,000. The company has to maintain a minimum cash batance of $5,000 and is authorized to borrow at the end of each month to make up any shortals it may borrow in increments of $5.000 and has to pay interest every month at an annual rate of 5%. Al financing transactions are assumed to tave place at the end of the manth. The loan balance should be repaid in increments of $5,000 whenever theie is sumplus cash. How much wil the company have to bortow at the end of August? A. 510,000 B. 55,000 c. $15,000 D. $20,000