Consider this case: Purple Turtle Group buys on terms of 4/20, net 60 from its chief supplier. If Purple Turtle receives an invoice for $1, 889.99, what would be the true price of this invoice? $1, 814.39 $1, 632.95 $1, 360.79 1, 451.51 The nominal annual cost of the trade credit extended by the supplier is 38.05%. Suppose Purple Turtle does not take advantage of the discount and then chooses to pay its supplier late-so that on average, . On average, Purple Turtle will pay its supplier on the 65th day after the sale. As a result, Purple Turtle can decrease its nominal cost of trade credit by 5.08 4.23 4.87 7.19 by paying late