a. If a firm buys under terms of 1/15, net 55 , but actually pays on the 20 th day and still takes the discount, what is the nominal cost of its nonfree trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two dedmal places. b. Does it recelve more or less credit than it would if it pald within 15 days? I. Paying after the discount period, but still taking the discount gives the firm less credit than it would recelve if it paid within 15 days. II. Paying before the discount period and taling the discountigives the firm more credit than it would recelve if it paid within is days. III. Paying after the discount period, but still taking the discount gives the firm more credit than it would recelve if it paid within 15 days