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Dunder Corporation has an existing loan in the amount of $10 million with an annual interest rate of 6.2%. The company provides an internal company-prepared

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Dunder Corporation has an existing loan in the amount of $10 million with an annual interest rate of 6.2%. The company provides an internal company-prepared financial statement to the bank under the loan agreement. Two competing banks have offered to replace Dunder Corporation's existing loan agreement with a new one. Money Tree Bank has offered to loan Dunder $10 million at a rate of 5.4% but requires Dunder to provide financial statements that have been reviewed by a CPA firm. Big Top Bank has offered to loan Dunder $10 million at a rate of 4.6% but requires Dunder to provide financial statements that have been audited by a CPA firm Dunder Corporation's controller approached a CPA firm and was given an estimated cost of $29,000 to perform a review and $64,000 to perform an audit Read the fequirements. (Enter amounts in dollars, not millions, throughout) Begin by calculating the annual costs under each loan agreement. (Complete all input fields, Enter a *o* for any zero balances) Cost of CPA Annual Loan Lender Services Annual Interest Cost Existing loan (No CPA service) Money Tree Bank (CPA Review service) Big Top Bank (CPA Audit service)

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