Stockett, Inc. has prepared its third quarter budget and provided the following data: Aug Sep Jul $50,000 $39,500 $47,400 Cash collections Cash payments Purchases of direct materials Operating expenses Capital expenditures 30,000 21,300 7,800 12,000 13,500 24,800 8,000 11,400 The cash balance on June 30 is projected to be S4,000. The company has to maintain a minimum cash balance of $5,000 and is authorized to borrow at the end of each month to make up any shortfalls. It may borrow in increments of $5,000 and has to pay interest every month at an annual rate of 5%. All financing transactions are assumed to take place at the end of the month. The loan balance should be repaid in increments of$5,000 whenever there is surplus cash. How much will the company have to borrow at the end of August? O A. $10,000 B. $5,000 O C. $15,000 OD, $20,000