Regis Clothiers can borrow from its bank at $18$ percent to take a cash discount. The terms of the cash discount are $\frac{3}{22},$ net $40.$

a$.$ Compute the cost of not taking the cash discount.

Note: Use a $360-$day year. Do not round intermediate calculations. Input your final answer as a percent rounded to $2$ decimal

places.

Cost of not taking a cash discount