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c. $513,698.63 8. C COST OF TRADE CREDIT AND BANK LOAN Lancaster Lumber buys $8 million of materials (net of discounts) on terms of 3/5,

image text in transcribed c. $513,698.63 8. C COST OF TRADE CREDIT AND BANK LOAN Lancaster Lumber buys $8 million of materials (net of discounts) on terms of 3/5, net 55 , and it currently pays on the 5 th day and takes discounts. Lancaster plans to expand, which will require additional financing. If Lancaster decides to forgo discounts, how much additional credit could it obtain? a. $1,095,890 b. $8,000,000 c. $2,405,680

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