value 10.00 points Problem 6-11 Boatler Used Cadillac Co. requires $1,000,000 in financing over the next three years. The firm can borrow the funds for three years at 8 percent interest per year. Mr. Boatler decides to that if he utilizes short-term financing instead, he will pay 4 percent interest in the first year, 7 percent in the second year, and 12 percent interest in the third year do forecasting and predicts Determine the total three-year interest cost under each plan a. Interest cost Fixed cost financing Variable short-term financing b. Which plan is less costly? O Fixed cost plan O Short-term plan References eBook & Resources Leaming Objective: 06-0 siderations for perman schedules, and liquidity v Worksheet Problem 6-11 7 esc