A wholesaler offers a trade discount of $20\%$ and a promotional discount of $10\%.$ How much would a retailer pay for $$100$ worth of goods? What is the equivalent discount rate?

Group of answer choices

Net Price $=$ $$74,$ Equivalent discount rate $=25\%$

Net Price $=$ $$80,$ Equivalent discount rate $=26\%$

Net Price $=$ $$72,$ Equivalent discount rate $=28\%$

Net Price $=$ $$78,$ Equivalent discount rate $=30\%$