Please, use the following information to answer the following questions:

A Canadian exporter has received three Usance L/Cs for exported crude canola oil with the following values and maturity dates:

USD1,000,000 - September 30th, 2020

USD1,500,000 - October 31st, 2020

USD500,000 - November 29th, 2020

On April 11th, 2020, BMO has accepted to discount of all of the above L/Cs with the annual discount rate of:

9% with recourse

15% without recourse

Exclude the First and the Last day.

How much is the total of interest charges if the company decides to discount all the L/Cs with recourse? *

1. $147,375
2. $148,839
3. $248,625
4. $393,000
5. $148,107

How much is the total amount payable to the exporter after discounting without recourse? *

1. $2,751,375
2. $2,607,000
3. $2,851,161
4. $2,851,893
5. $2,754,375

How much is the total amount payable to the exporter after discounting with recourse? *

1. $2,750,963
2. $2,753,155
3. $2,751,935
4. $2,607,000
5. $2,852,625

How much is the total of interest charges if the company decides to discount all the L/Cs without recourse? *

1. $245,625
2. $246,845
3. $249,037
4. $248,065
5. $393,000