Cost of Trade Credit Grunewald Industries sells on terms of 1/10, net 60 . Gross sales last year were $4,088,000 and accounts receivable averaged $504,000. 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 daily 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 intermediate calculations. Round your answers to two decimal places