A firm offers terms of 1/10, net 35.

Requirement 1:

What effective annual interest rate does the firm earn when a customer does not take the discount? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 2:

What effective annual interest rate does the firm earn if the discount is changed to 2 percent? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 3:

What effective annual interest rate does the firm earn if the credit period is increased to 55 days? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 4:

What effective annual interest rate does the firm earn if the discount period is increased to 15 days? (Do not include the percent sign (%). Round your answer to 2 decimal places (e.g., 32.16).)