11. Hayes Hypermarket purchases $4,562,500 in goods over a 1-year period from its sole supplier. The supplier offers trade credit under the following terms: 2/15, net 50 days. If Hayes chooses to pay on time but not to take the discount, what is the average level of the company's accounts payable, and what is the effective annual cost of its trade credit? a. $208,333; 17.81% b. $416,667; 17.54% c. $416,667; 27.43% d. $625,000; 17.54% O e. $625,000, 23.45% 12. The Tapley Company is trying to determine an acceptable growth rate in sales. While the firm wants to expand, it does not want to use any external funds to support such expansion due to the particularly high interest rates in the market now. The firm gathered the following data what is the maximum growth rate it can sustain without requiring additional funds? . Total assets = $120,000 Profit margin = 10% Dividend payout ratio= 50% Current sales - $100,000 Spontaneous liabilities $10,000. 3.36% O O c. 52 d. 6.15 e. 5.7