The historical default schedule (yearly and cumulative) experienced by Monash bank manager on a portfolio of business and mortgage loans are as follows. Years after issuance Loan type 1 Year 2 Years 3 Years 4 Years 5 Years Business: Annual default 0.00% 0.50% 0.30% Cumulative default 0.10% 0.80% Mortgage: Annual default Cumulative default 0.10% 0.25% 0.60% 0.80% 1.64% Which of the following statement is TRUE? O a. The business loans annual default in 5 Years after the issuance is higher than the 3 Years business loans after the issuance. Ob. The annual default of 4 Years after the issuance for business loans is higher than the 4 Years annual default for mortgages. O c. None of the other listed options is correct. O d. The mortgage annual default in 1 Year after the issuance is higher than 2 Years after the issuance