Core Pads Inc. has P2 million in excess cash that it might invest in marketable securities. In order to buy and sell the securities, however, the firm must pay a transaction fee of P45,000. a. Would you recommend purchasing the securities if they yield 12% annually and are held for (include a brief explanation why?): 1. one month? 2. two months 3. three months? 4. six months? 5. one year? b. What minimum required yield would the securities have to return for the firm to hold them for three months? 6? 1 year?