(Answered) Compute amount of venture capital needed

Blake Henderson and Anna Kraft are preparing a plan to submit to venture capitalists to fund their business, Education Solutions. The company plans to spend $380,000 on equipment in the first quarter of 2008. Salaries and other operating expenses (paid as incurred) will be $35,000 per month beginning in January 2008 and will continue at that level thereafter.;The company will receive its first revenues in January 2009, with cash collections averaging $30,000 per month for all of 2009.;In January 2010, cash collections are expected to increase to $100,000 per month and continue at that level thereafter.;Assume that the company needs enough funding to cover all its cash needs until cash receipts start exceeding cash disbursements. How much venture capital funding should Blake and Anna seek?
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Compute amount of venture capital needed

 


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