PROBLEMS 7-29. Millbridge Hospital buys its supplies in bulk and has recently switched vendors. The first purchase Millbridge made was for 500 boxes of gauze at $3.46 a box. The purchase had payment terms of 2/15 N/30. Millbridge earns 4 percent on its idle cash. Should it take the discount or not? Justify your answer by showing calculations. (Refer to Appendix 7-B to solve this problem.) Excel File Edit View Insert Format Tools Da E. A Home Layout Tables Charts SmartArt Formula Edit Font Fill Calibri (Body) 12 A- A- Paste Clear BIU A A2 fx B D E F Discount Discounted Price X 365 days x 100% Days Sooner A 1 PROBLEM 7-29 2 3 TEMPLATE 4 5 6 Implicit Interest Rate = 7 8 9 10 Implicit Interest Rate = 11 12 13 14 15 16 17 18 19 20 21 22 23