Consider this case:

$-$Free Spirit Industries Inc. buys on terms of $1/20,$ net $30$ from its chief supplier.$-$

If Free Spirit receives an invoice for $$1,254\mathrm{.}98,$ what would be the true price of this invoice? $($Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.$)$

$$1,304\mathrm{.}55$

$$1,118\mathrm{.}19$

$$931\mathrm{.}82$

$$1,242\mathrm{.}43$

The nominal annual cost of the trade credit extended by the supplier is $?,$ assuming a $365-$day year. $($Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.$)$

Suppose Free Spirit does not take advantage of the discount and then chooses to pay its supplier late$$so that on average, Free Spirit will pay its supplier on the $35$th day after the sale. As a result, Free Spirit can decrease its nominal cost of trade credit by $?$ by paying late. $($Note: Round all intermediate calculations to four decimal places, and your final answer to two decimal places.$)$