Points: 0 of 1 Save Simple Simon's Bakery purchases supplies on terms of 14/10, not 30 If Simple Simon's chooses to take the discount offered, it must obtain a bank loan to meet its short-term financing needs A local bank has quoted Simple Simon's owner an interest rate of 10 2% on borrowed funds. Should Simple Simon's enter the loan agreement with the bank and begin taking the discount? (Hint: Use 365 days for a year) C The cost of forgoing the discount is (Round to one decimal place) Incorrect: 2