the firm's commercial construction business. The crane will pay for itself in one year, and the firm is considering the following alternatives for financing its purchase: compensating-balance requirement is not binding on the firm because it normally maintains a minimum demand deposit (checking account) balance of $20,000 in the bank. Alternative B. The equipment dealer has agreed to finance the equipment with a 1-year loan. The $80,000 loan requires payment of principal and interest totaling $93,584. a. Which alternative should Morin select? a. The cost of Alternative A would be %. (Round to two decimal places.)