Question 12 Not yet answered Marked out of 10.00 P Flag question (10 marks) Your company has won a contract to build a large Headquarters office on land reclaimed from the sea, off the North Queensland Coast. Management has estimated that the main heavy plant required for the contract will be: Plant Quantity unit cost off-highway haul trucks 2 $87000 per truck front end bucket loaders 4 $80000 per loader backhoe hydraulic excavators 2 $72000 per excavator piling rigs 4 $113000 per pile rig bulldozers with attachments 2 $142000 per bulldozer Due to the duration of the project, which is estimated as 3 years, senior management has instructed that these plant items be bought. You have made enquiries with the company bank and they will loan the required amount at a fixed rate of interest 6 % per annum. The company will be making monthly repayments on the loan and interest on the loan will be compounded monthly. How much will the company have to repay the bank each month in order to clear the debt after 3 years