Evaluating alternative notes A borrower has two alternatives for o loan: (1) issue a $330,000,30-day, 4% note or (2) issue a $330,000,30-day note that the creditor discounts at 4%. Assume a 360 -day year. This information has been collected in the Microsort Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. Compute the amount of the interest expense for each option. Round your answer to the nearest dollar. for each alternative: b. Determine the proceeds received by the borrower in each stuation. Round your answers to the nearest dollar. (1) $330,000,30-day, 4% interest-bearing note: $ (2) $330,000,30-doy note discounted at 4%: : c. Alternative is more favorable to the borrower because the borrower Feedioa TCrec My Whe A360-day vear is used when calculating interest on a note Recalt the defintion of proceeds is the amount that the borrower receives in cash or merchindise