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JESTION 2 Bungs Raya Corporation is planning for an expansion project for their existing factory in Pulau Pinang. It is estimated that the project will take 10 months to complete and generate additional income for the company. The company needs RM800,000 additional financing for the said purpose and is considering three (3) alternatives. Compute the effective cost of the following alternatives: Alternative 1 Borrow from BDB Bank. The bank charges 12 percent annual interest and the loan is discounted. In addition, the bank requires a compensating balance of 6 percent. Alternative 2 (4 marks) The company could sell commercial papers maturing in 10 months at a 6 percent annual interest rate. The dealer charges a total placement fee of RM20,000. Alternative 3 (4 marks) To obtain a revolving line of credit of RM1,300,000 from CIMB Bank with 4.5 percent annual interest rate for the used loan. Besides, the company needs to pay a commitment fee of 2.5 percent on the unused loan. (4 marks) Choose the best source of financing for this firm. Provide the reason to your answer. (2 marks) Describe any three (3) functions of a financial manager. (6 marks)