Multiple Choice
Ningbo Steel was extended credit terms of 3/15 net 30. If the firm were able to stretch its accounts payable to 60 days without damaging its credit rating, the cost of giving up the cash discount would only be
A) 18.81%
B) 18.25%
C) 21.90%
D) 25.09%
Correct Answer:
Verified
Correct Answer:
Verified
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