5. Answer either question 1 or question 2 below. Do not answer both: 1. (a) Describe the five major methods of payment in international transactions. (b) Give a detailed explanation of how payment by Letter of Credit (L/C) works. (c) Why might both a seller and a buyer of goods prefer it to other payment arrangements ? (d) What supporting documents might be required for an L/C to be paid in the normal course of an international transaction for the international purchase and sale of goods? (15 marks)