Jaya Bhd., currently sells 16,900 units of product per year using a cash-only sales policy. The price per unit is RM20 while the cost per unit is RM14. Jaya Bhd., is considering switching to a net 5-week credit policy. With this credit policy, Jaya Bhd., estimates that it can sell 20,800 units per year, at the price of RM18 per unit and cost of RM13 per unit. Jaya Bhd.'s required return (EAR) on receivables is 6%. (a) What is the NPV of Jaya Bhd.'s switching from the cash-only policy to the credit policy? (6 marks) (b) Should Jaya Bhd., switch to the credit policy from the cash policy? Why? Explain briefly. (1 mark) Note that under Jaya Bhd.'s new 5-week credit policy, the price and cost per unit of product are, respectively, RM18 and RM13, and the required return (EAR) on receivables is 6%. (c) What is the maximum probability of default of a one-time customer that Jaya Bhd., should sell to on credit? Justify your decision