What would the effective percentage cost of its trade credit, Finance Basics

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What would the effective percentage cost of its trade credit

Problem

Mavericks cosmetics buys $3632986 of product(net of discounts) on terms of 4/10 net 60. and it currently pays on the 10th day and takes discounts. Mavericks plans to expand and this will require additional financing. If Mavericks decides to forego discounts, what would the effective percentage cost of its trade credit be, based on a 365 day rate?

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Finance Basics: What would the effective percentage cost of its trade credit

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