Cost of trade creditFirms usually offer their customers some form of trade credit. This allowance comes with certain terms of credit, which affect the cost of asset of sale for the buyer as well as the seller.Consider this case:Tasty Tuna Corporation buys most of its raw materials from a single supplier. This supplier sells to Tasty Tuna on terms of $3\mathrm{.}5/20,$ net $60.$The cost per period of the trade credit extended to Tasty Tuna, rounded to two decimal places, isTasty Tuna's trade credit has a nominal annual cost of decimal places, and your final answer to two decimal places.$)$The effective annual rate $($EAR$)$ of the supplier's trade credit is$,$ assuming a $365-$day year. $($Note: Round all intermediate calculations to fourIf Tasty Tuna Corporation's supplier shortens its discount period to five days, this willthe cost of the trade credit.