Problem 8-27 Accounts receivable financing [LO8-1] Charming Paper Company sells to the 12 accounts listed here. Receivable Balance Average Age of the Account Account Outstanding Over the Last Year A 26 $ 66,400 143,000 B 43 C 71,200 19 D 20,900 52 59,500 43 237,000 39 39,200 352,000 42,600 94,100 234,000 18 L 64,400 36 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 10.50 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 E F G H I J K WN Ninin 12 18 72 35 55