ost of secured​ short-term credit​) The Marlow Sales and Distribution Co. needs ​$ for the​ 3-month period ending September​ 30, 2015. The firm has explored two possible sources of credit. a. Marlow has arranged with its bank for a ​$ loan secured by its accounts receivable. The bank has agreed to advance Marlow percent of the value of its pledged receivables at a rate of percent plus a percent fee based on all receivables pledged.​ Marlow's receivables average a total of​ $1 million​ year-round. b. An insurance company has agreed to lend the ​$ at a rate of percent per​ annum, using a loan secured by​ Marlow's inventory of salad oil. A​ field-warehouse agreement would be​ used, which would cost Marlow ​$ a month.