Webster Corporation is preparing its cash budget for April. The March 31 cash balance is $36,400. The April cash receipts are expected to be $641,000 and April cash payments for purchases are expected to be $608,500. Other cash expenses expected for April are $27,000 selling and $33,500 general and administrative. The company is required to have a minimum cash balance at the end of each month of $30,000. If necessary, the company borrows enough cash to meet the minimum balance using a short-term note. The amount Webster must borrow during April is:

Select one:

a.

$58,000.

b.

$98,900.

c.

$8,400.

d.

$0.

e.

$21,600.