Question 7 (8 points) The Apollo Company makes and sells a product called Yam. Each unit of Yam sells for $26 dollars and has a unit variable cost of $20. The company has budgeted the following data for July: -A cash balance on July 1st of $50,000. -Sales of $1,380,000, all in cash. -Purchase of additional equipment for factory $150,000 -Cash manufacturing and operating expenses (other than equipment and interest) durin July of $1,300,000. -Animum cash balance of $60,000 on July 31th. If necessary, the company will borrow cash from a bank. The borrowing will be in multiples of $1,000 and will bear interest at 2% per month. All borrowing will take place at the beginning of the month. The interest on borrowed funds, if any, will be paid in cash during July. Compute the amount of cash that must be borrowed on July 1st to cover all cash disbursements and to obtain the desired July 31st cash balance. Example of Answer: 4000 (No comma, space, decimal point, or $ sign)