You start work at a new firm and learn that$$ it's company policy to always take a trade credit. When you ask your boss about$$ this, she says the firm needs the trade credit to avoid borrowing more money. You tell her it would be cheaper to borrow than to taking the trade credit. She tells you to prove it$.$ You learn that most of your suppliers offer terms of $2/10,$ net $45.$ Assume the$$ firm's cost of borrowed funds is $9\%.$ Use a$365-$day year.

The effective interest rate of the trade credit is $\_\_\_\_\_$ percent. $($Round to two decimal$$ places.$)$