P18-8 (similar to) Question Help (Related to Checkpoint 18.2) (Calculating the cost of trade credit) Calculate the annualized cost of the trade credit terms of 1/15, net 30 when payment is made on the net due date (assume a 365-day year). The annualized cost of the trade credit terms of 1/15, net 30 is %. (Round to two decimal places.)