Question $8$

A corporation buys on terms of $\frac{2}{8},$ net $45$ days, it does not take discounts, and it actually Jhays after $62$ days. What is the effective annual percentage cost of its non$-$free trade credit?

$($Use a $365-$day year.$)$ Keep to the $6$th decimal place for accuracy

a$.14\mathrm{.}63\%$

b$.14\mathrm{.}34\%$

c$.17\mathrm{.}52\%$

d$.15\mathrm{.}89\%$

e$.16\mathrm{.}69\%$