ABC reported the following in its latest financial statements. Credit sales were $800,000 and cost of goods sold was $60,000. Assume 365 days in a year, (a) Calculate the operating cycle. (10 marks) (b) Calculate the cash cycle. (10 marks) (c) Suppose the firm decides to get credit from its supplier to extend the cash cycle. The supplier quotes 2/8 net 30 . What is the interest rate the company has to pay if it takes the trade credit? (10 marks)