Calculate the annual effective rate for each of the following independent financing options: Option A: What is the effective rate of forgoing a discount available on trade credit with terms of 2/10, net 40. (3 marks) Option B: What is the effective rate of a 60-day bank loan for $1,000 at a rate of 8% requiring a 10% compensating balance. (3 marks) Option C: What is the effective rate of a $75,000, 90-day loan with 5% interest and a $1,500 administration fee due at the time the loan in granted.