Use the information for the company below to answer the question that follow. A company is preparing its cash budget. Its cash balance on January 1 is $290,000, and it has a minimum cash requirement of $340,000. The following data have been provided:

	January	February	March
Cash receipts	$1,061,200	$1,182,400	$1,091,700
Cash payments	984,500	1,210,000	1,075,000

What is the amount of cash excess or deficiency (after considering the minimum cash balance required) for March?

a.excess of $25,300

b.excess of $15,800

c.excess of $214,200

d.deficiency of $60,000