Anne Lockwood, manager of Oaks Mall Jewelry, wants to sell on credit, giving customers1 year to pay. However, Anne will have to borrow from her bank to carry the accountsreceivable. The bank will charge a nominal rate of 19% and will compound monthly.Anne wants to quote a nominal rate to her customers (all of whom are expected to pay ontime) that will exactly offset her financing costs. What nominal annual rate should shequote to her credit customers