3 (14 Marks) a) Zora Bank Ltd is a medium sized bank that was recently purchased and the new owners now find that there are a number of delinquent loans. They have hired you as a consultant to make recommendations on the categorizing and writing down of these delinquent loans. They also want you to recommend a system that will see the loans being realistically valued in the future. The owners have also asked that your recommendations show the effects on the income statement for each step that you are proposing. Your recommendations should set out three steps as they relate to provisioning that you would advise the bank to take. (12 marks) (b) A problem /default loan can be defined as a loan for which the repayments are overdue. List two credit operational deficiencies that financial institutions have control over, that if not adequately addressed by them, may cause the institutions to experience default and problem loans. (2 mrks)