BlackComb Sports (A). BlackComb Sports (BlackComb) is considering bidding to sell $103,000 of ski equipment to Phang Family Enterprises of Sooul, Korea. Payment would be due in seven months. Since BlackComb cannot find good credi intomabon on Phang. BlackComb wants to protect its credit risk. It is considering the following financing solution. Phang's bank issues a letter of credit on behal of Phang and agrees to accept BlackComb's draft for $103,000 due in six months. The acceptance fee would cost BlackComb \$450, plus reduce Phang's avalable credit line by $103,000. The bankers' acceptance note of $103,000 would be sold at a 1,94 per annum discount in the moriey market. What is the annualized percentage all-in cost to BlackComb of this bankers' acceptarice financing? (NOTE: Assume a 360-day your.) The discount on the sale of acceptance is (Round to the nearest cent)