Cost of Trade Credit Grunewald Industries sells on terms of 2/10, net 30 . Gross sales last year were $4,745,000 and accounts recelvable averaged $390,000. Half of Grunewald's customers paid on the 10th day and took discounts. What are the nominal and effective costs of trade credit to Grunewald's nondiscount customers? (Hint: Calculate dally sales based on a 365-day year, calculate the average receivables for discount customers, and then find the DSO for the nondiscount customers.) Do not round intermedlate calculations. Round your answers to two decimal piaces. Nominal cost of trade credit: Ellective cost of trade credit