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REQUIRED Answer the following questions from the information provided below: 3.1.1 Calculate the profit that Westpac Stores would make if the account is settled within 10 days. (4 marks) 3.1.2 Should the customer fail to pay the amount due and the account is written off after 90 days, how much would the loss be to Westpac Stores? (2 marks) INFORMATION Westpac Stores intends selling a television set on credit. The selling price of the television set is R12 000 The mark-up is 50% on cost. Credit terms of 3/10 net 60 were agreed upon. The cost of capital is 18%. 3.2 REQUIRED If Umbro Trader's required rate of return on equal-risk investments is 18%, should the proposed increase in the discount offered (from 2% to 4% ) be made? Show all calculations. (9 marks) INFORMATION The credit terms of Umbro Traders are currently 2/10 net 30 . The selling price of the only product that it offers for sale is R200 per unit and the variable costs are R110 per unit. The firm wants to determine the overall effect on profit if it changes its credit terms, by increasing the settlement discount from 2% to 4%. The table below shows the current situation and the expected changes arising from the new credit terms