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Anheuser Busch receives an invoice for $257315 with 1/15, net 60 terms. A&B's short term borrowing rate is 12%. What is the annualized interest rate

Anheuser Busch receives an invoice for $257315 with 1/15, net 60 terms. A&B's short term borrowing rate is 12%. What is the annualized interest rate applicable to the discount period of the company if the discount is not taken? a. 1.0% b. 8.2% c. 12.0% d. 18.4%

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