Financing Strategy. Johnson Company expects that it will need $600,000 cash for March 20X2. Possible means of financing are: (a) Establish a 1-year credit line for $600,000. The bank requires a 2...

Financing Strategy. Johnson Company expects that it will need $600,000 cash for March 20X2. Possible means of financing are: (a) Establish a 1-year credit line for $600,000. The bank requires a 2 percent commitment fee. The interest rate is 21 percent. Funds are needed for 30 days. (b) Fail to take a 2/10, net/40 discount on a $600,000 credit purchase. (c) Issue $600,000, 20 percent commercial paper for 30 days. Which financing strategy should be selected?