Problem 5 - 15 Points Your new business venture will begin operation on July 1, 2018. Volume is projected to be as follows: Month Volume July, 2018 1,000 August 1,000 September 1,000 October 1,100 November 1,100 December 1,100 January, 2019 1,200 February 1,200 March 1,200 April 1,300 1,300 1,300 May June You will hire staff (costing $50,000/month) effective January 1, 2018. You have secured a working capital loan from the local bank in the amount of $650,000 as of January 1, 2018. Collections lag billing by 3 months (in other words, once you bill for a service, you must wait 90 days for the payment to be received). You will charge $100.00 per unit of business and anticipate an 80% collection rate. How much cash will you have at the end of June 2019?