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What is the effective annual percentage cost

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Question - ABC Corporation buys on terms of 2/8, net 50 days, it does not take discounts, and it actually pays after 50 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)

a. 39.82%

b. 16.69%

c. 25.92%

d. 19.19%

Reference no: EM132963177

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