A borrower has two alternatives for a loan: (1) issue a $570,000,90-day, 9% note or ( 2 ) issue a $570,000,90-day note that the creditor discounts at 9%. Assume a 360-day year. a. Calculate the amount of the interest expense for each option. $ for each alternative. b. Determine the proceeds received by the borrower in each situation. (1) $570,000,90-day, 9% simple-interest (2) $570,000,90-day note discounted at 9% c. Alternative is more favorable to the borrower since the effective interest rate on alternative 1 is and the effective rate on alternative 2 is