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8. Callie Corporation needs to raise $720,000 for one year to supply capital to a new store. Callie Corporation buys from its suppliers on terms

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8. Callie Corporation needs to raise $720,000 for one year to supply capital to a new store. Callie Corporation buys from its suppliers on terms of 3/10, net 90, and it currently pays on day 10 and takes discounts, but it could forgo discounts, pay on day 90, and get the needed $720,000 in the form of costly trade credit. What is the APR of its non-free trade credit

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