Jacob Co. sells merchandise on credit to Isaiah Co. for $9,700. The invoice is dated May 1 with terms of 1/15, net 45. What is the amount of the discount and up to what date must the invoice be paid in order for the buyer to take advantage of the discount?
a. $194, May 16.
b. $97, May 15.
c. $97, May 16.
d. $194, May 15.
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