29.1 The North County Publishing Company has provided the following data: Annual credit sales = $10 million

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29.1 The North County Publishing Company has provided the following data:

Annual credit sales = $10 million Average collection period = 60 days Terms: Net 30 Interest rate = 10%

North County Publishing proposes to offer a discount policy of 2/10, net 30. It anticipates that 50 percent of its customers will take advantage of this new policy. As a result, the collection period will be reduced to 30 days. Should the North County Publishing Company offer the new credit terms?

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