Leveling loading would allow C. R. Plastics to not only save the $550,000 Bailey needed to invest in new equipment but also lower his operating costs and improve his cost of goods sold. First, the new machinery would cost $16,000 per month for depreciation, maintenance and other operating costs. Bailey also forecasted that his overall operating expenses would drop by an additional $135,000, as he would not need to go through the difficult process of hiring and training employees for the second and third shifts. Finally, Bailey had determined that if he ran everything on two shifts with a permanent crew, his scrap would drop, his labor efficiency would improve and his overall output should increase. For these reasons Bailey expected that C. R. Plastics could reduce its total cost of goods sold by an additional 1.2 per cent of sales.How much additional financing will Jamie Bailey need under both production alternatives? NetSales 8,300,000 cost of gods sold 4897000 Operating Expenses(b 1,376,900 Selling General and Administrative882,000900 Interest Expense (c) 162,547 income tax 981,553