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$3,575 Tor $4,850 cash. 9 Purchased merchandise from Keene Co. for $9,350 under credit terms of 2/15, n/60, FOB destination. 12 Received a $1.250 credit

$3,575 Tor $4,850 cash. 9 Purchased merchandise from Keene Co. for $9,350 under credit terms of 2/15, n/60, FOB destination. 12 Received a $1.250 credit memn acknowledning the Calculate the cost of the lost discount regarding the July 9 purchase. Assume a 7% interest rate. (Do not round intermediate calculations. Round your final answer to 2 decimal places. Assume 365 days a year.)

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