Kim Mitchel, the new credit manager of the Vinson Corporation, was alarmed to find that Vinson sells on credit terms of net 90 days while industry-wide credit terms have recently been lowered to net 30 days. On annual credit sales of $2.26 mallion, Vinson currently averages 95 days of sales in accounts receivable. Mitchell estimates that tightening the credit terms to 30 days would reduce annual sales to $2,135,000, but accounts receivable would drop to. 35 days of sales and the savings on investment in them should more than overcome any loss in profit: Assume that Vinson's variable cost ratio is 65%, taxes are 40%, and the interest rate on funds invested in receivables is 23%. The data has been collected in the Microsoft Excel Online fle below, Open the spreadsheet and perform the required analysis to answer the questions above. Open spreadsheet Assuming a 365-day year, calculate the net income under the cultent policy and the new policy, Do not round intermediate calculations, Round your answers to the nearest doliar: Current policy: 3 New policy: 5 Should the change in credit terms be made