Simple? Simon's Bakery purchases supplies on terms of 1.9/10, net 25 If Simple? Simon's chooses to take the discount? offered, it must obtain a bank loan to meet its?short-term financing needs. A local bank has quoted Simple? Simon's owner an interest rate of 10.1% on borrowed funds. Should Simple? Simon's enter the loan agreement with the bank and begin taking the? discount? (Hint: Use 365 days for a? year.)
The cost of forgoing the discount is ?%. (Round to one decimal? place.)