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Q4 Table Q4 shows the value of Work a contractor completes and the prot distribution for a l-mont constnrction contract. Table Q4: Value of Work Completion nnnnnn-nnm W\" IIIIIIIIHI million Prot {'13 of value of 15 15 5 5 work} Interim measurements are made monthly and payments of the certied amount less lrb retention are paid to the contractor one month later. 50% of the retention money is released one month after substantial completion (i.e. end of month 11, since completion is at and of month 10}, and the other 513% retention is released I5 months later (the defect liability period is 6 months}. However, the client describes his administration duties and proposes to the contractor that interirn payments to be made by monthly. The contractor wishes to know the nancial implications of this proposal. In other words, the contractor wants to know how much more he has to pay for the cost of the working capital. Analyse the extra nancial charge for borrowing the working capital if interest rate is at 9% per annum and interim payments are made by monthly. Assume that the contractor can delay paying his expenditures by an average of one month due to the availability of trade credits. (25 marks)