1. JTM is considering purchasing a small Cessna for corporate travel. The price is $700,000. The dealer is offering a payment plan in which JTM pays 50% down and finances the rest over 12 months at $30,499/ month. What is the implicit financing rate? If JTM's WACC is 7.9%, should it accept the financing offer? F G E Implicit cost of credit Enter your text answer in the box below. A1 w fx A B D Price 2 Cash 3 Down payment 4 Monthly payment 5 Cash Flows 6 Cash price minus down payment 7 Mo. 1 8 Mo. 2 Mo. 3 10 Mo. 4 11 Mo. 5 12 Mo. 6 13 Mo. 7 14 Mo. 8 15 Mo. 9 16 Mo. 10 17 Mo. 11 18 Mo. 12 19 9 . 1 000 20