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A firm buys on terms of 2/5, net 45 days, it does not take discounts, and it actually pays after 50 days. What is the

A firm buys on terms of 2/5, net 45 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.)

		17.81%
		11.20%
		24.68%
		10.43%
		11.97%

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