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ComDaseRhan Academy | F... Y Yahoo Finan Problem 8-31 Neveready Flashlights, Inc. needs $400,000 to take a cash discount of 2/10, net 60. A banker will loan the money for 50 days at an interest cost of $6,500. 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 rate b. How much would it cost (in percentage terms) if the firm did not take the cash discount, but paid the calculations. Round the final answer to 2 decimal places.) a na i cont .Should the firm borrow the money to take the discount? O No O Yes d. If the banker requires a 12 percent compensating balance, how much must the firm borrow to ond up with the $400,000? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Amount to be borrowed e-1. What would be the effective interest rate in part d if the interest charge for 50 days were $8,2002 (Use 365 days in a year. Do not round i places.) Effective interest rate -2. Shojuld the frm bormow with tho 17 percent compnsaing baiance? (The frm has no tungs to court against the compensating balance requirement.) O Yes No : FI F3 F4 FS F6