The following information is provided for a company's working capital. You will need this information for Question 11 - 13.

A company sells its products to customers with the following term: 1/20, Net 32. 40% customers pay on 20th day and rest on 30th day. At end of 2020, the company's sales were 1,540,000, Receivable was 109,699 and Cost of Goods Sold was 70%.

Q1

What was the nominal cost of trade credit to non-discount customers?

Round to nearest two decimal places without %.

Q2

What was the effective cost of trade credit to non-discount customers with payment term of 1/20, Net 34 ?

Q3

What was the receivables collection period (DSO) in 2020 in days?