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(Related to Checkpoint 18.2) (Evaluating trade credit discounts) If a firm buys on trade credit terms of 1/10. net 50 and decides to forgo the

(Related to Checkpoint 18.2) (Evaluating trade credit discounts) If a firm buys on trade credit terms of 1/10. net 50 and decides to forgo the trabe credit discuunt and pay oe the net day, What is the annualized cost of forgoing the discount (assume a 366 -day year)? The annualized cost of the tade credit terms of 1/10, net 50 is 6. (Round to two decimal places:)

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