Axton Billa is planning to revise it's credit policy. The current credit terms are 2/10 net 45 and credit sales are R10m. The new policy, which is not expected to result in an increase in sales, is 5/10 net 30. Accounts receivable, which currently represent an average of 40 days sales, are expected to reduce to an average of 20 days. The opportunity cost of capital is 18%. It should be assumed that a 360-day year applies. A customer who does not take advantage of the new credit terms, but who adheres to the new policy, will incur an annualized financing cost of: