Question 17 3 points Lancer Company's summary of it's budget cash flows is given below: 15 Quarter 2nd Quarter 3 Quarter 4th Quarter Total receipts $180.000 $340,000 $230,000 $260,000 Total cash disbursement $240,000 $ 270,000 $200,000 $250,000 Beginning cash balance for upcoming fiscal year. $16.000 Minimum cash balance required, $15,000 Interest rate 296 per quarter Repay loan at the end of 2nd quarter. Interest is due on any principal at the time it is paid. Interest is not compounded. How much is the total interest expense paid if a loan was made ? A $2.300 $ 2.600 C. 51100 D. None of the above Cor