First National Bank of Peoria has just met with the Treasurer at the Hazelton Corporation. Unfortunately the loan officer has informed the Treasurer that they cannot offer the usual line of credit to the company since the bank does not have available lending capacity. Hazeltons Treasurer would like to use trade credit to provide funds for the seasonal working capital needs. They are going to borrow the funds from their primary supplier who offers the following terms: 3/15 net 30. Hazelton plans to pay the supplier in 30 days. What is the effective annual rate of using trade credit? Does Hazelton have any alternative sources of financing available to them?