Cost of Trade Credit Grunewald Industries sells on terms of 2/10, net 60. Gross sales last year were 84,854,500 and accounts receivable averaged $65.000 af of Gustomers in the 10th day and to discounts. What are the nominal and effective costs of trade credit to Grunwald's nondiscount customers Calculate dalyses based on the coves for discount customers, and then find the So for the discount customers.) Do not round intermediate calculation Round your answers to the deal Nominal cost of trade credit 14.00 Effective cost of trade credit 15.89