xas State has a policy of minimum cash balance of $28,000. They started the year with $30,000 in Cash. Texas State expects $400,000 in tuition to be collected in the first quarter. The beginning of the year always has heavy spending. In the first quarter Texas State needs to pay professors $100,000; grounds maintenance teams $40,000; and make the final construction payment of $300,000 for a new building. Texas State also had depreciation expense of $100,000. How much do they need to borrow at the end of March? a. $138,000 b. $38,000 c. $28,000 d. $0