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Compute the cost of giving up cash discount

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Reference no: EM132794323

Essence Lavvy purchased a new machine on January 20th, 2019 for $1,000,000 on credit. The supplier has offered A&A terms of 2/10, net 50. The current interest rate the bank is offering is 20 percent.(Assume a 360-day year.)

1. Compute the cost of giving up cash discount.

2. Should the firm take or give up the cash discount?

Reference no: EM132794323

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