2. Joe Studio, a dealer in contemporary art, has forecasted its seasonal financing needs for the next six months as follows:

2. Joe Studio, a dealer in contemporary art, has forecasted its seasonal financing needs for the next six months as follows: Month Seasonal Requirement (a) The firm projects that short-term funds will cost 8 percent and January $1,450,000 long-term funds will cost 11 percent annually. February 1,895,000 (b) The firm's permanent funds requirement is $500,000. March 2,000,000 Calculate financing costs for the first six months using the April 1,575,000 aggressive and conservative strategies. May 1,342,000 June 1,562,000