Tivo Corporation Purchases Its Raw Materials on Credit Terms of 3/15

Tivo Corporation purchases its raw materials on credit terms of 3/15, net 30. Assuming there are 360 days in a year, the annual percentage rate of non-free trade credit if the firm did not take discounts but did pay on the due date is:

A) 67.68%.
B) 34.25%.
C) 58.92%.
D) 74.16%.
E) 82.55%.