Angie Co. bought merchandise for $1,000 with credit terms of 2/10, n/30. Because of the bookkeeper’s incompetence, the 2% cash discount was missed. The bookkeeper told Pete Angie, the owner, not to get excited. After all, it was a $20 discount that was missed—not hundreds of dollars. Act as Mr. Angie’s assistant and show the bookkeeper that his $20 represents a sizeable equivalent interest cost. In your calculation, assume a 360- day year. Make some written recommendations so that this will not happen again.