Which of the following statements are true regarding cost of trade credit? I.Cost of trade credit is the implicit cost associated with not availing cash discount within the stipulated period.II. Smaller the discount rate offered higher will be the cost of trade credit.III. Larger the spread between credit and cash discount periods, the lower will be the cost of trade credit. IV.Cash discount can be availed only when the cost of trade credit is lower than the opportunity cost of cash