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Nakatomi Toyota. Nakatomi Toyota buys its cars from Toyota Motors (US), and sells them to US customers. One of its customers is EcoHire, a car

Nakatomi Toyota. Nakatomi Toyota buys its cars from Toyota Motors (US), and sells them to US customers. One of its customers is EcoHire, a car rental firm that buys cars from Nakatomi Toyota at a wholesale price. Final payment is due to Nakatomi Toyota in six months. EcoHire has bought $200,000 worth of cars from Nakatomi, with cash down payment of $40,000 and the balance due in six months without any interest charged as a sales incentive. Nakatomi Toyota will have the EcoHire receivable accepted by alliance Acceptance for a 2% fee, and then sell it at a 3% per annum discount to Wells Fargo Bank. (a) What is the annualized percentage all in cost to Nakatomi Toyota? (b) What are Nakatomis net cash proceeds, including the cash down payment?

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