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A Firm Is Offered Trade Credit Terms of 3/15,net 45

Question 30

Multiple Choice

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%

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