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23 Little Kimi Clothiers can borrow from its bank at 12 percent to take a cash discount. The terms of the cash discount are 2/18

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23 Little Kimi Clothiers can borrow from its bank at 12 percent to take a cash discount. The terms of the cash discount are 2/18 net 85 a. Compute the cost of not taking the cash discount (Use 365 days in a year. Do not round the intermediate calculations, Round the final answer to 2 decimal places.) Cost of not taking a cash discount 4 points b. Should the firm borrow the funds? 01:25-40 ONO Yes

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