If the Company ABC has the following data: Purchases = $8,000,000; terms = 3/5 net 60; currently pays on Day 5 and takes discounts. If the Company forgoes discounts, whats the additional trade credit that the Company receives? And whats the nominal and effective cost of trade credit? If the Company can obtain a bank loan with 10% periodical rate paid monthly, whats the effective annual rate of the bank loan? Comparing the effective annual rate with the effective cost of trade credit, bank loan or trade credit should the company use?