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Little Kimi Clothiers can borrow from its bank at 18 percent to take a cash discount. The terms of the cash discount are 3/22 net

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Little Kimi Clothiers can borrow from its bank at 18 percent to take a cash discount. The terms of the cash discount are 3/22 net 75. a. Compute the cost of not taking the cash discount. (Use 365 days in a year. Do not round the intermediate calculations. Round the final answer to 2 decimal places.) Cost of not taking a cash discount % b. Should the firm borrow the funds? O No Yes

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