time, 80 days after the invoice date. Hala Company buys on terms of 3/10, net 80 days. It does not take discounts, and it typically pays on a. What is the nominal annual percentage cost of its non-free trade credit? (2 marks) b. What is the effective annual percentage cost of its non-free trade credit? (2 marks) c. If the company's net purchases amount to $500,000 per year. On average, how much "free" trade credit does the firm receive during the year? (2 marks) d. If the firm could raise funds from a bank at an annual percentage rate of 16.5% compounding monthly, should it use a bank loan or additional trade credit? Explain. (4 marks)