What will be the nominal annual percentage cost

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Reference no: EM131555371

Your company has been offered credit terms of 4/30, net 90 days. What will be the nominal annual percentage cost of its non-free trade credit if it pays 110 days after the purchase? (Assume a 365-day year.) State answer as a percentage but do not include the % symbol. Round to 1 decimal place.

Reference no: EM131555371

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