Company X sells on a 2/15, net 90, basis. Customer Y buys goods with an invoice of $3,500. a. How much can company Y deduct from the bill if it pays on day 15? Discount 701 b. How many extra days of credit can company Y receive if it passes up the cash discount? Number of days 75 days c. What is the effective annual rate of interest if Y pays on the due date rather than day 15? (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate 10.11% Company X sells on a 2/15, net 90, basis. Customer Y buys goods with an invoice of $3,500. a. How much can company Y deduct from the bill if it pays on day 15? Discount 701 b. How many extra days of credit can company Y receive if it passes up the cash discount? Number of days 75 days c. What is the effective annual rate of interest if Y pays on the due date rather than day 15? (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Effective annual rate 10.11%