Boatler used Cadillac Co. requires $970.000 in Borrow the funds for three years at 8% interest financing over the next three years. The firm can Per year. Mr. Boatler decides to do forecasting Predicts that if he utilizes short term financing instead, he will pay 4% interest in the first 7% in the second year and 12% interest in the third year, and year, interest cost a) determine the total three-year under each plan. fixed cost financing total interest costo ? variable short-term financing tutal interest costi? b) which plan is less costly