Chipotle Mexican Grille projects an increase in sales from $3 billion to $4.0 billion, but they need an additional $600 million of current assets to support the expansion. Chipotle can finance the expansion by no longer taking discounts from their suppliers, thus increasing accounts payable. Chipotle purchases under terms of 1.5/10, net 30, but it can delay payment for an additional 30 days, (paying in 60 days) without penalty. What is the effective annual cost of trade credit