Today is 1/7/2020. Jane is 30 years old today and she is considering using a 5-year loan (it starts from 1/7/2020) from MQU Bank to borrow $100,000 to open a caf. Jane will make 260 monthly repayments at the end of each month over the following five years with the first payment being made on 31/7/2020. This loan needs to be fully repaid by the end of 5 years (i.e., 30/6/2025 when Jane is 35 years old.). This package includes a management fee of $350. This fee will be paid by Jane on 1 July of each year over the five-year period of the loan. The first one is paid today. The loan repayment is calculated based on interest rate of j12 = 12% p.a. Jane is using her Excel skills to figure the rate charged by the bank. She firstly calculate loan repayment in cell B6, then use Goal seek to find the implied annual nominal rate of interest payable monthly (i.e., 112) by including both loan repayments and management fees. The present value of all related cash flows (repayments and management fees), which is calculated by using net borrowing cost, is stated in cell B9. B $ 1 Borrowed amount 2 Interest rate 112 3 Interest rate per month 4 Number of payments 5 Management fee 6 Loan repayment 7 Net borrowing cost per month 8 Net borrowing cost / 9 Present value of net cash flow 10 Outstanding amount after 2 years 100,000.00 6% 0.005 60 250 350 1,933.28 0.554% 6.853% 100,000.00 63,548.88 $ $ $ b) Give the Excel cell formula Jane would use to calculate the value of cell B9. Select one: O a. =PV(B7,B4,B6)+PV(B8,5,B5)*(1+B8)) O b. =ABS(PV(B7,B4,B6))+ABS(PV(B8,5,B5))*(1+B8)) O c. =ABS(PV(B7,B4,B6))+ABS(PV(B8,5,B5)) O d. =PV(B7,B4,B6)+PV(B8,5,B5)