Each of the following situations Involves the use of discounts: 1. How much discount may DOOBIE Inc. take in each of the following transactions? What was the annualized Interest rate? Round your answers to the nearest whole number. When calculating the annualized rate use 360 days. Discount Annualized Interest Rate a. DOOBIE purchases inventory costing $700, 2/10, n/30. b. DOOBIE purchases new office furniture costing $2,500, terms 1/15, n/45. 2. Calculate the discount rate OUTZ Co. received in each of these transactions. a. OUTZ purchased office supplies costing $400 and paid within the discount period with a check for $396. Round your answer to the nearest whole number. b. OUTZ purchased merchandise for $6,200. It paid within the discount perlod with a check for $6,045. Round your answer to one decimal place. %