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A retailer ordered merchandise totaling $124,115.23 with terms 4.5% 10 net 40. What is the effective rate of return? (Simplify your answer completely. Assume there

A retailer ordered merchandise totaling $124,115.23 with terms 4.5% 10 net 40. What is the effective rate of return? (Simplify your answer completely. Assume there are 365 days in a year. Round your answer to one decimal place.)

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