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A firm buys on terms of 3/15, net 45.It does not take the discount, and it generally pays after 60 days.What is the nominal annual

A firm buys on terms of 3/15, net 45.It does not take the discount, and it generally pays after 60 days.What is thenominal annual percentage costof its non-free trade credit, based on a 365-day year?

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