Dynamic Corporation has an existing loan in the amount of $6 million with an annual interest rate of 5.7%. The company provides an intemal company-prepared financial statement to the bank under the loan agreement. Two competing banks have offered to replace Dynamic Corporation's existing loan agreement with a new one. Money Tree Bank has offered to loan Dynamic $6 million at a rate of 4.6% but requires Dynamic to provide financial statements that have been reviewed by a CPA Sem. More Money Bank has offered to loan Dynamic $6 million at a rate of 3.8% but requires Dynamic to provide financial statements that have been audited by a CPA firm Dynamic Corporation's controller approached a CPA Sem and was given an estimated cost of $31,000 to perform a review and $63,000 to perform and Read the requirement (Enter amounts in dolars, not milions, throughout.) Requirement b. Calculate Dynamic Corporation's annual costs under each loan agreement, including interest and costs for the CPA firm's services. Indicate whether Dynamic should keep its existing loan, accept the offer from Money Tree Bank or accept the offer from More Money Bank Begin by calculating the annual costs under each loan agreement. Complete at input felds. Enter a "for any bas Lender Existing loan (No CPA service) Money Tree Bank (CPA Review service) Cost of CPA Services Annual Interest 0 342,000 $342.000 31,000 $270,000 $ 53.000 228,000 Annual Lon Cost 281,000 More Money Bank (CPA Audit service) Indicate whether Dynamic should keep its existing loan, accept the effer from Money Tree Bank, or accept the offer from More Money Bank Based on the analysis in the preceding step. Dynamic should accept the offer from More Money Bank Requirement & Assume that Money Tree Bank has offered the loan at a rate of 4.0% with a review, and the cost of the audit has increased to $113.000 due to new auditing standards requirements. Indicate whether Dynamic should keep its exceting loan, accept the offer from Money Tree Bank, or accept the offer from More Money Bank Begin by calculating the annual costs under each loan agreement. (Complete at input faids. Enter a "for any) Lander Existing loan (No CPA service) Money Tree Bank (CPA Review service) More Money Bank (CPA Audit service) Cost of CPA Services Annual Interest Annual Loan Cost