a Rockford Filing Ltd requires $1 million in financing for a 45-day period. Three alternatives are being considered. (Uce 365 days in a year, Do not round Intermediate calculations. Round the final answers to 2 decimal places) a Establish a line of credit with the bank at an interest rate of 10 percent. The bank will charge a fee of 1% to establish the line of credit b. Forgo trade discounts from suppliers on terms of 2/15, net 60. c. Issue commercial paper for 45 days at a discount of 125 percent a. What is the actual percentage cost of the line of credit? Rate of Interest for bank loan 18.11% b. What would be the cost of forgoing the cash discount? Cost of forgoing the cash discount 16.55% c. What would be the Price and cost of commercial paper? Price N Discounted commercial paper 96 d. Which alternative should be selected? Bank loan Cost of forgoing discount Commerical paper