Multiple Choice
A firm buys on terms of 2/8,net 45 days,it does not take discounts,and it actually pays after 58 days.What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)
A) 14.34%
B) 15.10%
C) 15.89%
D) 16.69%
E) 17.52%
Correct Answer:
Verified
Correct Answer:
Verified
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