2. Blueness Industries has forecasted its monthly needs for working capital (net of spontaneous sources, such as accounts payable) for 2023 as follows: Month January February March April May June Amount Month Amount $375,000 July $370,000 380,000 August 355,000 485,000 September 300,000 590,000 October 350,000 570,000 November 360,000 390,000 December 365,000 Short-term borrowing (that is, a bank line of credit) costs the company 4 percent annually and intermediate-term borrowing (that is, term loans) costs the company 8 percent annually. Any funds in excess of its monthly needs can be invested in interest-bearing marketable securities to yield 3 percent per annum. a. Divide the firm's monthly funds requirement into (1) a permanent component and (2) a temporary component, and calculate these components (the temporary component is a monthly average). b. Suppose the company follows an aggressive policy by financing all its working capital requirements for the year with short-term borrowing. Determine Blueness's interest costs during 2023 under this policy. c. Suppose the firm uses the maturity matching principle by financing all of its permanent needs with long-term financing and its temporary needs with short-term financing. Determine the firm's interest costs under this policy. d. Suppose the firm follows a radical conservative policy by financing the maximum amount of its working capital requirements for the year with long-term borrowing and investing any excess funds in short-term marketable securities. Determine Blueness's net interest costs during 2023 under this strategy. e. Determine the profitability versus risk trade-offs associated with these aggressive, moderate and conservative working capital financing policies.