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A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 63 days. What is the
A firm buys on terms of 2/8, net 45 days, it does not take discounts, and it actually pays after 63 days. What is the effective annual percentage cost of its non-free trade credit? (Use a 365-day year.)
Group of answer choices
12.48%
17.79%
14.06%
14.35%
11.19%
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