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What is the effective annual cost

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Question - A firm is offered trade credit terms of 3/15, net 30 days. The firm does not take the discount, and it pays after 50 days. What is the effective annual cost of not taking this discount? (Assume a 365-day year.)

a. 37.39%

b. 32.25%

c. 45.50%

d. 30.00%

e. 44.30%

Reference no: EM132974417

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