hris Angle can borrow from its bank at 21 percent to take a cash discount. The terms of the cash discount are 2.5/14 net 65. Compute the cost of not...

hris Angle can borrow from its bank at 21 percent to take a cash discount. The terms of the cash discount are 2.5/14 net 65.

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

Cost of not taking a cash discount           

Not attempted

 %

b. Should Chris borrow the funds?

• Yes
• No