need both parts

Your firm purchases goods from its supplier on terms of 2.6/12, net 40 . a. What is the effective annual cost to your firm if it chooses not to take the discount and makes its payment on day 40 ? b. What is the effective annual cost to your firm if it chooses not to take the discount and makes its payment on day 50 ? (Hint Use a 365-day year.) a. What is the effective annual cost to your firm if it chooses not to take the discount and makes its payment on day 40 ? If your firm chooses not to take the discount and makes its payment on day 40 , the eflective annual cost is (Round to one decimal place.)