Your company is considering three options for financing its short-term operations.

i. Borrow Tk.25 million from Shuktara Bank at a 15 percent interest rate and a 20 percent compensating balance requirement by signing a 60-day promissory note.

ii. Borrow Taka 25 million from Chandramukhi Bank at 15 percent discount interest.

iii. Forego discount on a trade credit on terms 3/10, net 50.

Strictly based on effective cost, which option would you select and why?