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Simmons Corporation can borrow from its bank at 1 8 percent to take a cash discount. The terms of the cash discount are 2 .

Simmons Corporation can borrow from its bank at 18 percent to take a cash discount. The terms of the cash discount are 2.5/10, net 75.
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.

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