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Che Charming Paper Company sells to the 12 accounts listed here. Account B C D Receivable Balance Outstanding $ 63,600 133,000 73,300 29,100 56,100 253, 33.480 349,000 45,300 90.600 237.000 61, Average Age of the Account Over the Last Year 25 43 19 57 42 39 24 67 32 59 15 37 G H Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, B0 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 12 50 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could quality Maximum lan Capital LIDI CUI PUIGUI Weru u percen dydis LLUI US dl live averayu su uay Ul 155, ou perlen account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 1250 percent, and Capital charges 4.50 percent over prime to Charming as its annual loan rate. a. Determine the maximum loan for which Charming Paper Company could quality Maximum loan amount b. Determine how much one month's interest expense would be on the loan balance determined in parta (Do not round intermediate calculations. Round your final answer to 2 decimal places.) Interest expense

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