QUESTION 16 From: Principles of Finance with Excel 3rd ed,, Benninga and Mofkadi, 0 2018, 2011, 2006 ABC Corp. would like to borrow $10 million to fund a new manufacturing plant. According to the projected business plan, ABC feels comfortable with an equal annual payment of $1,550,000. What is the term of the loan that ABC Corp. can take assuming the alternative cost of capital is 9% per year? (Hint: use NPER function) Annual Payment Loan Amount: Alternative Cost of Capital: Term of Loan 1,550,000 10,000,000 9.00% #NIA Part B: How would you check to make sure this is correct? Show your work