Simple Simon's Bakery purchases supplies on terms of 1.5/10, net 26. If Simple Simon's chooses to take the discount offered, it must obtain a bank loan to meet its short-term financing needs. A local bank has quoted Simple Simon's owner an interest rate of 10.3% on borrowed funds. Should Simple Simon's enter the loan agreement with the bank and begin taking the discount? (Use 365 days for a year.) Simple Simon's can earn an effective rate of %. (Round to one decimal place.) Should Simple Simon's enter the loan agreement with the bank and begin taking the discount? (Select the best choice below.) O A. Simple Simon's will earn 41.2% on its purchases by paying within the discount period and should enter into the loan agreement. O B. Simple Simon's will earn 23.6% on its purchases by paying within the discount period and should enter into the loan agreement. O C. The discount rate of 1.5% is considerably lower than the 10.3% interest rate, so Simple Simon's should not enter into the loan agreement. OD. Need more information to answer the