Wright Industries Limited traditionally follows a highly aggressive working capital policy with no long-term borrowings. Below are key details recently compiled: Items Sales (all on credit) Purchases (all on credit) Gross profit Average receivables Average inventory Average accounts payables Current annual credit sales Collection period Terms Required rate of return 24 000 000 2 months S (million) 24 The firm is also proposing to offer a 4/10, net /30 discount policy to reduce accounts receivables. Wrights anticipates 30% of its customers will take advantage of the discount. As a result of this discount policy, the collection period will be reduced to 1 months. The company also provides the following data: net/30 12% 8 6 3 2 2 Determine: i. the firm's working capital cycle, that is, cash conversion cycle. ii. whether the firm should offer the new discount policy to customers. (4 marks) (6 marks)