Question: Problem 8 - 2 ( Algo ) Cash discount decision [ LO 8 - 1 ] Regis Clothiers can borrow from its bank at 1

Problem 8-2(Algo) Cash discount decision [LO8-1]
Regis Clothiers can borrow from its bank at 12 percent to take a cash discount. The terms of the cash discount are 2/15, net 50.
a. Compute the cost of not taking the cash discount.
Note: Use a 360-day year. Do not round intermediate calculations. Input your final answer as a percent rounded to 2 decimal places.
Cost of not taking a cash discount
vdots
b. Should the firm borrow the funds?
Yes
No
Problem 8-2(Algo) Cash discount decision [LO8-1] Regis Clothiers can borrow from

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