Problem 8-2 Cash discount decision [LO8-1] Regis Clothiers can borrow from its bank at 19 percent to take a cash discount. The terms of the cash discount are 2/14, net 55 . a. Compute the cost of not taking the cash discount. (Use a 360-day year. Do not round intermediate calculations. Input your final answer as a percent rounded to 2 decimal places.) Answer is complete but not entirely correct. \begin{tabular}{|l|l|} \hline Cost of not taking a cash discount & 18.17 \\ \hline \end{tabular} b. Should the firm borrow the funds? No Yes