Laurey Inc. is working on its cash budget for May. The budgeted beginning cash balance is $41,000. Budgeted cash receipts total $122,000 and budgeted cash disbursements total $116,000. The desired ending cash balance is $63,500. To attain its desired ending cash balance for May, the company needs to borrow:

$110,500

$0

$63,500

$16,500