Question 23 1 pts CitiGroup extends trade credit for its customers with terms of "7/8, net of 77". If the company pays their account on the last day (that is on day 77), what is the effective cost of the trade credit? 46.67% 46.91% 46.85% 0 46.72% 46.80% Question 22 1 pts A company sells about 44,000 tons of candies a year. The inventory carrying costs are $270 per ton of candies and the cost of placing an order with the manufacturer is $1,800. How many orders will be placed in a year? 58 orders. 766 orders. 0 57 orders. O 56 orders. O 767 orders. D Question 21 1 pts Dataware has daily sales of $500,000 all received in checks and the value of a check is $500 on average. Company has a cost of capital of 8%. The financial manager is evaluating a bank's lockbox service that would reduce the collection time of checks by 11 days. The bank charges $0.70 to process a check. Assume that there are 365 business days in a year. Dataware should: NOT implement the lockbox service, since the cost is $183,900 higher than the benefit of lockbox implement the lockbox service, since the benefit is $184,300 higher than the cost of lockbox. O O NOT implement the lockbox service, since the cost is $185,500 higher than the cost of lockbox. implement the lockbox service, since the benefit is $184,600 higher than the cost of lockbox implement the lockbox service, since the benefit is $184,500 higher than the cost of lockbox