N You have just purchased equipment for your company for $20 000 from your supplier, and you were offered the credit terms 1/5, Net 30. a. What is the effective annual rate of the trade credit if you choose to pay on day 30? Answer in percentage form with two decimals (i.e. 34.55%, not 0.3455). % b. What is the effective annual rate of the trade credit if you instead choose to pay on day 45? Answer in percentage form with two decimals (i.e. 34.55%, not 0.3455). %