St$.$ Mary$$s Lodge is evaluating the cost of foregoing an early payment discount from one of their suppliers. The supplier is currently offering St$.$ Mary$$s Lodge credit terms of $2/5,$ net $30.$ The average purchase price is $$1,600$ per order. What is the effective annual cost of foregoing the discount? If St$.$ Mary$$s Lodge can finance these purchases by using a loan that has an effective annual cost of $7$ percent, should they take the discount and use the loan?