The George Company has a policy of maintaining an end-of-month cash balance of at least $27,000. In months where a shortfall is expected, the company can draw in $1,000 increments on a line of credit it has with a local bank, at an interest rate of 12% per annum. All borrowings are assumed for budgeting purposes to occur at the beginning of the month, while all loan repayments (in $1,000 increments of principal) are assumed to occur at the end of the month. Interest is paid at the end of each month. For April, an end-of- month cash balance (prior to any financing and interest expense) of $14,500 is budgeted, for May, an excess of cash collected over cash payments (prior to any interest payments and loan repayments) of $18,500 is anticipated. a. What is the interest payment estimated for Apri there is no bank loan outsanding at the end of Ma (Do not round intermediate calculations.) Estimated interest payment b. What is the total financing effect (cash interest plus loan transaction) for May? (Do not round intermediate calculations.) Total financing effect