A manufacturer of heavy equipment provides $90$ day credit to the customers and receives $30$ days credit from suppliers $(60$ day gap is there$)$

Annual sales amount to $20$ million dollars $.$ annual purchase amount $14$ million dollars. Working capital loan available $12$ percent per annum payable monthly,

Expected default rate from customer $10$ percent on receivable.

What is the minimum capital loan to be availed to mitigate the liquidity risk