The cash budget for the first three quarters of the CASHBUD 515 company is given below 1000 omitted). The company requires a minimum cash balance of at least $5,000 to start each quarter necessary, the company wil borrow money from its bank to maintain this balance. The company will pay no interest in Quarters 12 and 3. I will repay as much of its borrowings as possible as soon as it has more than $5,000 in cash in a given Quarter Suppose the company starts the first quarter with no bank debt. How much total bank debt does the company expect to have at the end of the third quarter? Cash Budget Quarter (000 omitted) 2 3 2 2 $8 88 2 28 89 7? ? 55 65 41 45 52 B 9 10 Cash balance beginning Add collections from customers Total cash available Less disbursements: Purchase of inventory Selling and administrative expenses Equipment purchases Dividends Total disbursements Excess (deficiency of cash available over disbursements Financing Borrowings Repayments Total financing Cash balance ending 2 2 2 2 2 2 2 2 7 7 Multiple Choice $15,000 $8.000 $40,000 $47000