1. What risk characteristics should Seasill management consider when determining the unit of account to measure expected credit losses for its consumer loan products? 2. How should Seasill management consider prepayment when estimating expected credit losses using a method in accordance with ASC 326-20-30-5 (e.g., a loss -rate method)? 3. Seasill management must consider the nature of its consumer loans and their risk characteristics when determining the appropriate historical credit loss data to use in calculating historical loss information. Evaluate the following: a. Is there sufficient historical credit loss information to estimate losses over the contractual term of ist consumer loan products? Why or why not? b. Is Seasill required to revert to historical credit loss information ( as adjusted, if applicable) in estimating expected credit losses?