Little Kimi Clothiers can borrow from its bank at 17 percent to take a cash discount. The terms of the cash discount are 3/19 net 90. a. Compute the cost of not taking the cash discount. (Use 365 days in a year. Do not round the intermediate calculations. Round the final answer to 2 decimal places.) Cost of not taking a cash discount % b. Should the firm borrow the funds? O Yes O No Your bank will lend you $6,000 for 45 days at a cost of $93 interest. a. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual rate of interest % b. What is your effective annual rate? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Effective annual rate %