Please show work, not excel work.

1. The Baumol model You are the newly appointed senior ass stant to wolfgang walkenshaulk, the oro of Tegan Enterprises, a successful company with $75 milion in sales. Following up on a comment made during the board meeting last week, wolfgang walkenshaulk has asked you to verify that the cash transfers between the company's portfolio of marketable securities and ts principal bil-paying checking account are the lowest cost possble. Currently, Tegan tends to fund ts monthly cash requirements by ether seling its marketable securities or borrowing funds in increments of $43,311. You have colected the following data and only need to complete your calculations to address wolfgang walkenshaulk's concens and answer the questions that follow. (Note: To make your computations easier, round all dollar amounts to the nearest whole dolar ) Cash Transfer Data for Tegan Enterprises Monthly cash requirement Return earned on marketable securities portfolio Securities-to-cash conversion cost 458,333 9.50% $20.00 Given the cash transfer data for Tegen, complete the following table: Cash Transfer Analysis for Tegan Enterprises Activities Suggested by he Baumol Model Current Activities S43,311 Average cash balance Total annual cash-related holdng costs Annual number of transactions Total annual transaction costs Total annual cost of cash balances shouid you recommend to woitgang walkenshaulk that the size and frequency of the company's cash transters be changed? Why? O yes, because the total cash costs assocated with the current transters are less than those associated with transfers based on the Baumol model O No, because the total holding costs associated wth transters based on the Baumol model are less than those O No, because the total transaction costs associated with transfers based on the Baumal model are greater than O yes, because the totel cash costs associated with transfers based on the Beumol mocel are less than those associated with the curent transters those associated with the current transfers associated with the ourrent transters