Weyman Z. Wannartaker is the chief financial officer of Cogbum Company. He prides himself on being able to manage the company's cash resources to minimize the interest expense. Consequently, on the second business day of each month, Weyman pays down or draws cash on Cogburn's tevolving line of credit at First National Bank in accordance with his cash requirements forecast. You are the auditor. You find the information on this line of credit in the following table. You inquired at First National Bank and leamed that Cogburn Compary's loan agreement specifies payment on the first day of each month for the interest due on the prevous month's outstanding balance at the rate of "prime plus 1.5 percent" The baok gave you a report that showed the ptime rate of interest was 8.5 percent for the first six months of the year and 8.0 percent for the last six month5: Required: a. Determine an audit estimate of the amount of interest expense you expect to find as the balance of the interest expense account