Problem $15\mathrm{.}03($Cost of Trade Credit and Bank Loan$)$

eBrook

${?}^{6}67123\mathrm{.}3$

What would be the nominal cost of that credit? Do not round intermediate calculations. Round your answer to two decimal places.

$\%$

What would be the effective cost of that credit? Do not round intermediate calculations. Round your answer to two decimal places.

$\%$

$\%$

Should Lancaster use bank debt or additional trade credit?