Using the information in SE5-4, what amount will Kurt Company pay to Marilyn Company if Kurt Company takes advantage of the purchase discount?

Exercise SE5-4

Kurt Company purchased \(\$ 5,000\) of merchandise from Marilyn Company with terms of \(2 / 10 \mathrm{n} / 40\). What percent discount will Kurt Company get if it pays within the allowed discount period? If Kurt Company fails to pay within the discount period, how many days does Kurt Company have from the date of purchase before the payment is considered to be late?