Mealer, Inc. has prepared its third quarter budget and proviced the tollowing data: Jul Aug Sep $46,600 Cash collections $51,000 $39,500 Cash payments: Purchases of direct materials 31,000 22,100 17,700 Operating expenses Capital expenditures 12,500 8,700 11,700 13,800 24,500 The cash balance on June 30 is projected to be $4,100. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 4 %. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of $5,000 whenever there is surplus cash. Calculate the final projected cash balance at the end of September. OA. $9,084 O B. $19,084 O C. $53,567 O D. $6.967