Your company needs $5 million to finance a new project over the next 5 years. As a CFO, you are considering two financing alternatives: (a) issuing commercial paper (CP) with a maximum maturity of 9 months; and (b) 5-year term loan at a fixed interest rate through a local bank. Discuss the pros and cons of issuing CP relative to the term loan to finance the project. Assume that the corporate bond yield curve is a normal, upward slopping yield curve.