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Answer the following questions assuming a 360-day year. Required: (a) Calculate the approximate annual rate of return on investment of the following cash discount terms:

Answer the following questions assuming a 360-day year.

Required:

(a)

Calculate the approximate annual rate of return on investment of the following cash discount terms: (Do not round your intermediate calculations. Round your final answers to 1 decimal place. Omit the "%" sign in your response.)

	ROI
1/15, net 30		%
2/10, net 60		%
1/10, net 90		%

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