6. Canadian Foods Ltd. Is a manufacturer of packed "gourmet" foods. At present, the book value of the stockholders' equity is $50 million. The firms also has $30 million of long-term debt and long-term assets of $70 million. The following are forecasts of the firm's current asset needs for the next two years (in millions of dollar): Payables and accruals average 40 percent of current assets. a. Determine the amount of short-term borrowing needed per quarter to compete the financing of current assets. b. The interest rate on long-term bonds is 12 percent; on short-term borrowing, it is 10 percent. Suppose Canadian Foods reduced long-term debt by $10 million and matched current assets with current liabilities. How much interest would it save over the two years? 6. Canadian Foods Ltd. Is a manufacturer of packed "gourmet" foods. At present, the book value of the stockholders' equity is $50 million. The firms also has $30 million of long-term debt and long-term assets of $70 million. The following are forecasts of the firm's current asset needs for the next two years (in millions of dollar): Payables and accruals average 40 percent of current assets. a. Determine the amount of short-term borrowing needed per quarter to compete the financing of current assets. b. The interest rate on long-term bonds is 12 percent; on short-term borrowing, it is 10 percent. Suppose Canadian Foods reduced long-term debt by $10 million and matched current assets with current liabilities. How much interest would it save over the two years