22-1 Trade Credit Rates (LO2) Company X sells on a 6/24, net 62, basis. Customer Y buys goods with an invoice of $1,000. a. How much can Y deduct from the bill if it pays on day 24? (Round your answer to 1 decimal place.) Discount b. How many extra days of credit can Y receive if it passes up the cash discount? (Round your answer to the nearest whole.) Extra days of credit c. What is the effective annual rate of interest if Y pays on the due date rather than day 24? (Round your answer to 2 decimal places.) Effective annual rate of interest