Atlanta Cement,Inc.buys on terms of 2/15,net 30.It does not take discounts,and it typically pays 65 days after the invoice date.Net purchases amount to $720,000 per year.What is the nominal annual percentage cost of its non-free trade credit,based on a 365-day year?

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11ea856c_8b56_91de_9aec_3b859ba84a1b_TB1222_00 ?
Nom.% cost = Disc %/(100 - Disc %) 11ea856c_8b56_91df_9aec_75c1f00a3e58_TB1222_11 (365/(Actual days - Disc days))
Nom.% cost = 2.04% 11ea856c_8b56_b8f0_9aec_d733d9b3691f_TB1222_11 7.30 = 14.90%
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The effective discount % is earned N times per year;the product is the nominal annual cost rate.