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A company has offered you credit terms of 3/20 net 60. The annual percentage cost to you of foregoing the discount is __________________. a. 54%

A company has offered you credit terms of 3/20 net 60. The annual percentage cost to you of foregoing the discount is __________________.

a. 54%

b. 27%

c. 18%

d. 36%

e. None of the above

*Please show work!

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