4. ABC Corporation buys raw materials from its supplier on credit and is given terms of 3/20 net 60. If ABC buys $100 worth of raw materials, what is the effective annual cost to ABC if the company does NOT take advantage of the trade credit? (Note: Round numbers to the thousands. For example, if you have 0.234589, round this number to 0.235.) (a) 32% (b) 1.32% (c) 0.32% (d) 132% (e) None of the above