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If a firm buys on trade credit terms of 2/15, net 75 and decides to forgo the trade credit discount and pay on the net

If a firm buys on trade credit terms of 2/15, net 75 and decides to forgo the trade credit discount and pay on the net day, what is the annualized cost of forgoing the discount (assume a 365-day year)?image text in transcribed

(Related to Checkpoint 18.2) (Evaluating trade credit discounts) If a firm buys on trade credit terms of 2/15, net 75 and decides to forgo the trade credit discount and pay on the net day, what is the annualized cost of forgoing the discount (assume a 365-day year)? The annualized cost of the trade credit terms of 2/15, net 75 is %. (Round to two decimal places.)

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