Differential Costing preparing a bid. The data are as follows: Checking accounts needed: 6 Checks per month:*2,000 Foreign debits/credits on checking accounts per month: 200 Deposits per month:* 300 Returned checks:* 25 per month Credit card charges per month: 4,000 Wire transfers per month: 100, of which 60 are to foreign bank accounts Monthly credit needs (line of credit availability and cost): $100,000 average monthly usage *These are overall totals for the six accounts during a month. Internet banking services? Knowledgeable loan officer? Responsiveness of bank? FirstBank Bid: Checking accounts: $5 monthly maintenance fee per account $0.10 foreign debit/credit $0.50 earned for each deposit $3 per returned check Credit card fees: $0.50 per item Wire transfers: $15 to domestic bank accounts, $50 to foreign bank accounts Line of credit: Yes, this amount is available, interest charged at prime plus 2%, subject to a 6% minimum interest rate Internet banking services? Yes, full online banking available: $15 one-time setup fee for each account $20 monthly fee for software module Community Bank Bid: Checking accounts: No fees for the accounts, and no credits earned on deposits $2.00 per returned check Credit card fees: $0.50 per item, $7 per batch processed. Only manual processing was available, and Kicker estimated 20 batches per month Wire transfers: $30 per wire transfer Line of credit: Yes, this amount is available: interest charged at prime plus 2% subject to a 7% minimum interest rate Internet banking services? Not currently, but within the next six months RegionalOne Bank Bid: Checking accounts: $5 monthly maintenance fee per account to be waived for Kicker $0.20 foreign debit/credit $0.30 earned for each deposit $3.80 per returned check Credit card fees: $0.50 per item Wire transfers: $10 to domestic bank accounts, $55 to foreign bank accounts Line of credit: Yes, this amount is available: interest charged at prime plus 2% subject to a 6.5% minimum interest rate Internet banking services? Yes, full online banking available: one-time setup fee for each account waived for Kicker $20 monthly fee for software module submit a bid. Required: 1. Calculate the predicted monthly cost of banking with each bank. Round intermediate calculations and final answers to the nearest dollar. If the full online banking access were crucial, Community Bank would be immediately. This leaves FirstBank and RegionalOne Bank. The two sets of monthly costs are sim be conducted-for example, on the interest rate on the line of credit or the fees per wire transfer