Early payment discount versus loan Joanne Germano works in an accounts payable department of a major retailer. She has attempted to convince her boss to take the discount on the 1/15 net 90 credit terms most suppliers offer, but 11%. Prove to whoever is wrong that the other is correct (Note: Assume a 365-day year.) her boss argues that giving up the 1% discount is less costly than a short-term loan at The cost of giving up the cash discount is% (Round to two decimal places Who is right in this case? (Select the best answer below.) O Joanne's boss O Joanne