Required: a. A firm currently offers terms of sale of 3/15, net 50. Calculate the effective annual rate. a-1. Calculate the effective annual rate if the terms are changed to 4/15, net 50. a-2. What effect does an increase in the discount rate have on the implicit interest rate charged to customers that pass up the discount? b-1. Calculate the effective annual rate if the terms are changed to 3/25, net 50. b-2. What effect does a decrease in the extra days of credit have on the implicit interest rate charged to customers that pass up the discount? C-1. Calculate the effective annual rate if the terms are changed to 3/15, net 40. c-2. Is there any difference between the implicit interest rate for terms of 3/25, net 50 and 3/15, net 40