Problem 8-31 Flashlights, Inc. needs $440,000 to take a cash discount of 2/10, net 60. A banker will loan the 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.) 12.59 b. How much would it cost (in percentage terms) i the firm did not take the cash discount, but paid the (Use 365 days in a year. Do not round intermediate bill in 60 days instead of 10 days? calculations. Round the final answer to 2 decimal places.) Cost of not taking a cash discountA .Should the firm borrow the money to take the discount? O Yes No d. If the banker requires a 15 percent compensating balance, how much must the firm borrow to end with the $440, final answer to 2 decimal places.) 000? (Use 365 days in a year. Do not round intermediate calculations. Round the Amount to be borrowed e-1. What would be the effective interest rate in part d it the interest charge for 50 days were $9,100? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Effective interest rate e-2. Should the firm borrow with the 20 percent compensating balance? (The firm has no funds to count against the compensating balance requirement.) O Yes O No FI F2 F3 ODD FA FS