Your Company Purchased $10,000 Worth of Inventory January 2 on Credit

Your company purchased $10,000 worth of inventory January 2 on credit. The terms of sale are 3/15 net 45. What is the effective annual interest rate if you pay the full amount in 45 days?

A) 3.1%
B) 28.0%
C) 37.6%
D) 44.9%
E) 74.3%