SoGood Candy Company is evaluating its quarterly working capital needs. Using the information below, calcuate the working capital, permanent working capital, and temporary working capital needs for the company. Quarter 1 2 3 4 Cash 708 890 670 1250 Accounts Receivable 450 750 1200 800 Inventory 650 550 700 400 Accounts Payable 900 850 1000 1145 Working capital Permanent W/C Temporary W/C 1 To meet the needs of temporary working capital, SoGood Candy Company has decided to issue commercial paper which will mature in 8 months. The commercial paper was issued for 1.6 millin and they received 1.5 0 million. What is the effective annual rate that they will pay for this loan? 2 3 Annual Percentage Rate(APR) 4 Effective Annual Rate (EAR)