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What is annual cost of that incident of paying an invoice

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Question - Escape Company regularly pays its accounts payable on the tenth day and enjoys the 2 percent cash discount, term: 2/10, net 30. Because of an oversight, one supplier's invoice is not paid within the discount period but paid 10 days after. What is the annual cost of that incident of paying an invoice on the 20th day, instead of the tenth day? Use 360 days a year.

a. 2.04%

b. 30.02%

c. 73.44%

d. 36.73%

Reference no: EM132795311

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