Question: Please help me with this question. I'm stumped! If a firm buys on trade credit terms of 4/15, net 50 and decides to forgo the

Please help me with this question. I'm stumped!

If a firm buys on trade credit terms of 4/15, net 50 and decides to forgo the trade credit discount and pay on the netday, what is the annualized cost of forgoing the discount(assume a365-day year)?

The annualized cost of the trade credit terms of 4/15, net 50 is ???%

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