The treasury analyst for Garth Manufacturing has estimated the operating cash flows for the first half of next year as: Cash (millions) Inflows Outflows January $2 $1 February 2 4 March 2 5 April 2 3 May June 4 2 5 Garth has a line of credit of up to $4 million on which it pays interest monthly at a rate of 1% of the amount utilized. Garth is expected to have a cash balance of $2 million on January 1 and no amount utilized on its line of credit. Assuming all cash flows occur at the end of the month, approximately how much will Garth pay in interest during the first half of the year?