Ralph Butler is planning to launch an online gaming start-up under the name "Musicmantra." The start-up will require considerable initial investment in the first year, but it will start generating revenue in the second year. As a result, Ralph is planning to submit a business plan to a venture capitalist to fund the business. Ralph plans to spend 870,000 on equipment and other infrastructure in 2021. The start-up's operating expenses will be 58,000 per month (paid as incurred) starting from January 2021 and will continue at that level thereafter. The company will receive its first revenue in January 2022 with average cash collections of 52,000 per month throughout 2022 . In January 2023 , cash collections are expected to increase to 200,000 per month and continue at that level thereafter. The company needs enough funding to cover all its cash needs until cash collections start exceeding cash disbursements. Requirement 1. How much venture capital funding should Ralph seek? (Leave unused cells blank.) Ralph Butler is planning to launch an online gaming start-up under the name "Musicmantra." The start-up will require considerable initial investment in the first year, but it will start generating revenue in the second year. As a result, Ralph is planning to submit a business plan to a venture capitalist to fund the business. Ralph plans to spend 870,000 on equipment and other infrastructure in 2021. The start-up's operating expenses will be 58,000 per month (paid as incurred) starting from January 2021 and will continue at that level thereafter. The company will receive its first revenue in January 2022 with average cash collections of 52,000 per month throughout 2022 . In January 2023 , cash collections are expected to increase to 200,000 per month and continue at that level thereafter. The company needs enough funding to cover all its cash needs until cash collections start exceeding cash disbursements. Requirement 1. How much venture capital funding should Ralph seek? (Leave unused cells blank.)