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Your company is out of cash at the end of 2014. You have a credit line from which you can borrow throughout the year. You

Your company is out of cash at the end of 2014. You have a credit line from which you can borrow throughout the year. You have calculated you capital cash flows will be 910,000 for 2015. You will borrow to cover your cash needs for both operations and interest for 2015. You will borrow evenly throughout the next year so you will pay interest on the average debt balance outstanding over the year. You have no other debt besides what you are borrowing on your credit line and your cash flow to equityholders will be 0 for 2015. How much do you need to borrow over the year in order to cover your cash needs if the interest rate is 10%? (please round to the nearest dollar and do not include commas in your answer)

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