Neveready Flashlights Inc. needs $346,000 to take a cash discount of 2/12, net 74. A banker will loan the money for 62 days at an interest cost of $10,500. a. What is the effective rate on the bank loan? (Use a 360-doy year. Do not round intermediate calculations, Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest % b. How much would it cost (in percentage terms) if the firm did not take the cash discount but paid the bill in 74 days instead of 12 days? (Use a 360-day year. Do not round intermediate calculations. Input your answer percent rounded to 2 decimal places.) Cost of not taking a cash discount c. Should the firm borrow the money to take the discount? No O Yes d. If the banker requires a 20 percent compensating balance, how much must the firm borrow to end up with the $346,000? Amount to be borrowed % 0-1. What would be the effective interest rate in part dif the interest charge for 62 days were $12.300? (Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) Effective rate of interest e-2. Should the firm borrow with the 20 percent compensating balance requirement? (The firm has no funds to count against the compensating balance requirement.) Yes ONO