The D.). Masson Corporation needs to raise $500,000 for 1 year to supply working capital to a new store, Masson buys from its suppliers on terms of 1/10, net 80, and it currently Days on the 10th day and takes discounts. However, it could forgo the discounts, pay on the both day, and thereby obtain the needed $500,000 in the form of costly trade credit. What is the effective annual interest rate of this trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places