Problem $8-6$

Chris Angle can borrow from its bank at $20$ percent to take a cash discount. The terms of the cash discount are $\frac{1\mathrm{.}5}{17}$ net $50.$

a$.$ Compute the cost of not taking the cash discount. $($Use $365$ days in a year. Round intermediate calculations to $4$ d$$cimal places. Round the final answer to $2$ decimal places.$)$

Cost of not taking a cash discount $\%$

b$.$ Should Chris borrow the funds?

Yes

No