Bristol Builders, Inc. buys on terms of 2/15, net 30. It does not take discounts, and it typically pays 55 days after the invoice date. Net purchases amount to $800,000 per year. What is the effective annual percentage cost of its non-free trade credit, based on a 365-day year?

		20.24%
		21.07%
		22.41%
		23.45%
		24.54%