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Question
A firm is offered trade credit terms of 3/15, net 45. The firm does not take the discount, and it pays after 67 days. What is the approximate annual cost of not taking the discount?
a. 21.41%
b. 22.07%
c. 22.95%
d. 23.48%
e. 24.52%
Answer
This answer is hidden. It contains 1 characters.
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