Marteres Dra Homework: Homework 7 Question 8, P16-20 (similar to) HW Score: 0% of pr O Point of 1 Save Inventory financing Raymond Manufacturing faces a gidity on needs a loan of $122,000 for 1 month. Having no source of additonal unsatured bomowing the fim must find a secured hot sander The are quite low, but its inventory is considered Squid and masonably good collateral. The book value of the inventory is $30,000, of which $140,400 is Shahed goods (Note Assume 365-day yar (1) City-Wide Bank will make $122,000 recept loan against the finished goods inventory. The annual interest rate on the ban is 11.3% on the landing an balance plus a 3.24% admiration fee indagine the $122.000 (2) Sun State Bank will lend $122.000 against foaling den on the book value of inventory for the 1-month period at an annual of 13.2% (3) Citizens Bank and Trust wil lend $122.000 against a warehouse copt on the frihed goods inventory and charge 15.4% annual intent on the landing loan balance. A0% warning few be even the averag bonowed. Because the loan wit be liquidated as inventory is said, the average loan balance is expected to be 173,200 Calculate the dollar cost of each of the proposed plans for obtaining an into own amount of $122.000 b. Which plan do you recommand? Why? e if the firm had made a purchase of $122,000 for which it had been given tame of 1/10 net 28, would in the tm's profity to give up the decount and not bon recommended inert ? Why or why not? The dollar cost of the trust receipt loan is $(Round to the nearest cant)