A borrower can obtain an 75 percent loan with an 8 percent interest rate and monthly payments. The loan is to be fully amortized over 25 years. Aternatively, he could obtain a 80 percent loan at an 8.5 percent rate with the same loan term. The borrower plans to own the property for the entire loan term. Required: a. What is the incremental cost of borrowing the additional funds? (Hint. The dollar amount of the loan does not affect the answec) b. What is the incrementol cost of borrowing the additional funds if 1 points were charged on the 80 percent loan? c. What is the incremental cost of borrowing the additional funds if the borrower planned to own the property for only five years? Complete this qutition by entering your answers in the tabs below. What is the incremental cost of borrowing the additional funds if the borrower planned to own the property for only flve years? (Do not round intermediate calculations. Round your final answer to 2 decimat places.)