Carla Vista Landscaping has an average collection period of 40 days for its accounts receivable. Currently, Carla Vista factors all of its receivables at a 2 percent discount. What is the effective annual interest rate on the financing from the factor? (Use 365 days for calculation. Round intermediate calculations to 4 decimal places, e.g. 1.2514 and final answer to 2 decimal places, e.g. 15.25%.) Effective annual interest rate %