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Diemans Corp has provided a part of its budget for the 3rd quarter: July August September Cash collections $100,000 $150,000 $200,000 Cash payments: Purchases 10,000 8,000 16,000 S. &Adm. expenses 30,000 12,000 18,000 Additional assets 9,500 14,100 8,000 Assume the company wishes to maintain a minimum cash balance of $ 75,000 at the end of each month. To maintain the minimum cash balance, the company can borrow from the bank in $ 1,000 increments at %8 interest and the company should payback borrowed money when there an excess cash balance. The cash balance on March 31, ist. is $10,000. Calculate the amount that needs to be borrowed in July to maintain the minimum cash balance. Select one: O $4,450 O $5,000 O $15,000 O $14,500 $15,500 O $0