Memphis Metro, a service-based firm that provides high-performance training for competitive junior volleyball players, has a credit line with the following specifications: - Average daily borrowings of $400,000 on a $500,000 committed credit line - Annual interest expense on the credit line of $14,500, - Commitment fee of $500 a. Calculate the effective borrowing cost for the credit line. b. Recalculate the effective cost of the credit line with a compensating balance requirement of 5 percent. c. Recalculate the effective cost of the credit line with a compensating balance requirement of 10 percent. d. Discuss why the effective borrowing cost increases for a, b, and c