correct or incorrect for the work you have completed so far. It does not indicate completi Annual credit sales of Nadak Co. total $3297 million. The firm gives a 2.75 % cash discount for payment within 10 days of the invoice date; 80% of Nadak's accounts receivable are pald within the discount perlod. Required: a. What is the total amount of cash discounts allowed in a year? (Enter your answer in millions rounded to 2 decimal places.) Answer is complete and correct. Total amount milion 7 25 b. Calculate the approximate annual rate of return on investment that Nadak Co.'s cash discount terms represent to customers who take the discount. (Assume a credit period of 30 days and 360-days year). (Round intermediate calculations to 2 decimal places. Enter your answer as a percentage rounded to 1 decimal place (i.e., 32.1).) Answer is complete but not entirely correct. ROI 50.9 %