You place an order for 1,400 units of Good X at a unit price of $51. The supplier offers terms of 3/20, net 45. (Enter your answer as directed, but do not round intermediate calculations.)

Requirement 1: (a) How long do you have to pay before the account is overdue?

Number of days _____days

(b) If you take the full period, how much should you remit?

Remittance $_____

Requirement 2:

(a) What is the discount being offered? (Enter your answer as a percentage.)

Discount rate _____%

(b) How quickly must you pay to get the discount?

Number of days _____days

(c) If you do take the discount, how much should you remit?

Remittance $_____

Requirement 3:

(a) If you dont take the discount, how much interest are you paying implicitly?

Implicit interest $_____

(b) How many days credit are you receiving?

Days credit _____days