Granger Company's cost of capital is 13%. It has invested x (million dollars) in current assets. The following function represents the shortage cost of current assets

S = 9 e^x/5

Find the following:

(A) The optimal level of current assets.

(B) The shortage, financing, and total annual cost of these assets.

(A) $13.140 million, (B) $650,000, $1.708 million, $2.358 million

Below is the answer. Please show all steps which lead to the answer.

(A) $13.140 million

(B) $650,000, $1.708 million, $2.358 million