Neveready Flashlights Inc. needs $380,000 to take a cash discount of 2/10, net 80. A banker will loan the money for 70 days at an interest cost of $6.300. a. What is the annual rate on the bank loan? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Annual trate 96 b. How much would it cost (in percentage terms) If the firm did not take the cash discount, but paid the bill in 80 days tristead of 10 days? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Cost of not taking a cash discount c. Should the firm borrow the money to take the discount? No Yes d. If the banker requires a 16 percent compensating balance, how much must the tim borrow to end up with the $380.000? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Amount to be borrowed SER 6-1. What would be the effective interest rate le port dit the interest charge for 70 days were $8.000? /Use 365 days in a year. Do not round Intermediate calculations. Round the final answer to 2 decimal places.) Annual rate e-2. Should the firm borrow with the 21 percent compensating balance? The film has no funds to count against the compensating balance requirement) NO