co Question 1 Not yet answered Marked out of Markel Industries had a revolving creditorer with bank for a loan of $500.000 during the year 2017. The company experienced a slock in colecting directivos and hence took a loan of $100.000 Guing is in time for a period of 8 months. The bark charged and rate of 12% per annum requiring a competecting 3.00 P Flag question balance of 10% and a commitment fee of 5% What was the effective cost of this loon for Markel Industries? (Round all your calculations fo the nearest whole number and show all steps clearly 2