Victory Cycles (A).Victory Cycles (U.S.) exports large-engine motorcycles (greater than 700cc) to Australia and invoices its customers in U.S. dollars. Sydney Wholesale Imports has purchased $ 2 comma 990 comma 000 of merchandise from Victory, with payment due in five months. The payment will be made with a bankers' acceptance issued by Charter Bank of Sydney at a fee of 1.79 % per annum. Victory has a weighted average cost of capital of 11 %. If Victory holds this acceptance to maturity, what is its annualized percentage all-in cost? (NOTE: Assume a 360-day year.) Question content area bottom Part 1 The bankers' acceptance fee is $enter your response here . (Round to the nearest cent.)

Victory Cycles (A). Victory Cycles (U.S.) exports large-engine motorcycles (greater than 700cc ) to Australia and invoices its customers in U.S. dollars. Sydney Wholesale Imports has purchased $2,990,000 of merchandise from Victory, with payment due in five months. The payment will be made with a bankers' acceptance issued by Charter Bank of Sydney at a fee of 1.79% per annum. Victory has a weighted average cost of capital of 11%. If Victory holds this acceptance to maturity, what is its annualized percentage all-in cost? (NOTE: Assume a 360 -day year.) The bankers' acceptance fee is $ (Round to the nearest cent.)