orporation has an existing loan in the amount of $5 million with an annual interest rate of 5.8%. The company provides an internal company-prepare t to the bank under the loan agreement Two competing banks have offered to replace Junoic Corporation's existing loan agreement with a new on Fe Bank has offered to loan Junoic $5 million at a rate of 5.0% but requires Junoic to provide financial statements that have been reviewed by a CP eck Bank has offered to loan Junoic $5 million at a rate of 3.7% but requires Junoic to provide financial statements that have been audited by a CPA orporation's controller approached a CPA firm and was given an estimated cost of $35,000 to perform a review and $47,000 to perform an audit. requirements. (Enter amounts in dollars, not millions, throughout.) ment b. Calculate Junoic Corporation's annual costs under each loan agreement, including interest and costs for the CPA firm's services. Indicate v ould keep its existing loan, accept the offer from Earn More Bank, or accept the offer from Green Back Bank. calculating the annual costs under each loan agreement. (Enter a "0" for any zero balances.) CPA Cost of CPA Annual Annual Service Services Interest Loan Cost ban None 0 e Bank Review ck Bank Audit orporation has an existing loan in the amount of $5 million with an annual interest rate of 5.8%. The company provides an internal company-prepare t to the bank under the loan agreement Two competing banks have offered to replace Junoic Corporation's existing loan agreement with a new on Fe Bank has offered to loan Junoic $5 million at a rate of 5.0% but requires Junoic to provide financial statements that have been reviewed by a CP eck Bank has offered to loan Junoic $5 million at a rate of 3.7% but requires Junoic to provide financial statements that have been audited by a CPA orporation's controller approached a CPA firm and was given an estimated cost of $35,000 to perform a review and $47,000 to perform an audit. requirements. (Enter amounts in dollars, not millions, throughout.) ment b. Calculate Junoic Corporation's annual costs under each loan agreement, including interest and costs for the CPA firm's services. Indicate v ould keep its existing loan, accept the offer from Earn More Bank, or accept the offer from Green Back Bank. calculating the annual costs under each loan agreement. (Enter a "0" for any zero balances.) CPA Cost of CPA Annual Annual Service Services Interest Loan Cost ban None 0 e Bank Review ck Bank Audit