In 2020, WFH Enterprises has sales of $ 100 million, and the cost of goods sold of $ 60million. At the end of 2020, WFH Enterprises also has accounts receivable of $ 25million ,accounts payable of $ 20 million ,and inventory of $ 15million .Assume 365 days in a year .

a) Calculate the accounts payable days for WFH Enterprises.

bA supplier has offered WFH Enterprises trade credit terms of 1 /15, net 40. Explain how to interpret the terms of credit .Calculate the effective annual rate .Assume the supplier sells the product for $ 100

c) Next year, WFH Enterprises is considering switching to a supplier in Vietnam, which uses Dong as its currency. WFH Enterprises wants to estimate how the exchange rate will affect its costs. The spot exchange rate for Dong is 18,000 Dong /Dollar. The one-year interest rate in Australia is 1% and the one - year interest rate in Vietnam is 9%. Based on these rates, what is the implied one-year forward exchange rate if markets are internationally integrated?