Problem 8-27 Accounts receivable financing (LO8-1] Charming Paper Company sells to the 12 accounts listed here. Account A B C D E F G H . I J K L Receivable Balance Outstanding $ 69,200 127,000 70,300 za 20 10 za 28,700 53,800 306,000 30,300 22 351,000 40,300 200 97,500 289,000 67,000 Average Age of the Account Over the Last Year 22 44 17 62 42 20 2. 25 70 70 31 51 20 32 38 Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, 80 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 9.50 percent, and Capital charges 3.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could qualify. Maximum loan amount b. Determine how much one month's interest expense would be on the loan balance determined in part a. (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Interest expense