Lancaster Lumber buys 58 million of matemals (niet of discounts) on terms of 3/5, nat 60, and it currently pays the 5th day and takes discounts, Lancaster plans to expand, which will require additional financing, Assume 365 days in year for your calculations If Lancaster decides to forgo discounts, how much additional credit coud it obtain? Write out your answer completely. For example, 5 million should be entered as 5,000,000. Do not round Intermediate calculations. Round your answer to the nearest cent. $ What would be the nominal cost of that credik? Do not round intermediate calculations. Round your answer to two decimal places. What would be the effective cost of that credit? Do not round intermediate calculations, Round your answer to two decimal places If the company could get the funds from a bank at a rate of %, interest paid monthly based on a 365-day year, what would be the effective cost of the bank loan? Do not round Intermediate calculations. Round your answer to two decimal places Should Cancaster use bank debt or additional trade credit? WE