Management desires a minimum balance of $10,000 at all times. If necessary, additional financing can be obtained at a 12% interest rate. Interest is paid at the time of repaying the loan principal.

Note: for calculating interest, if our budget indicates we will need to borrow money, we will plan to do so at the beginning of the month. When we are able to repay the balance we will do so at the end of the month.

Use the format below for  a cash balance.

	January	February	March
Beginning cash balance
Add: cash receipts
Subtotal
Less: cash payments
Cash balance before financing/repayment
Financing:
Borrowing to maintain minimum balance
Principal repayment
Interest payment
Ending cash balance

 

If we had to borrow $11558 in January and $5760 in February and our cash balance before refinancing/repayment in March is 35021, compute the total required financing for March. Round ONLY your final answer to the nearest whole dollar amount. Do not round intermediate calculations