A firm offers credit terms of 4/15, net 40. What is the effective annual rate on the credit extended if a customer foregoes the discount on a $5,000 purchase? Assume that there are 365 days in one year. (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit the % sign in your response. For example, an answer of 15.39% should be entered as 15.39.)