A firm bought some material with a purchase price of $1,000 and credit terms of 1/10 net 30. The firm paid for these goods on the 5th day after the date of sale. What is the cost of giving up the cash...

A firm bought some material with a purchase price of $1,000 and credit terms of 1/10 net 30.  The firm paid for these goods on the 5th day after the date of sale. What is the cost of giving up the cash discount?  How much must the firm pay for the goods.