Hard Rock Paving Company is applying for a loan. It is your job to determine how much they will be able to borrow. They will not be making any payments for the first 15 months. After that, they will make payments of $1,000 per month for four years. There is no interest-free grace period. The first $1,000 payment will be made 15 months after the loan is received. If the interest rate is 13.2% compounded monthly, how much can they expect to borrow?