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Assume that its trade credit terms are 1/10, net 40 and Mackenzie pays on day 35. Using a 365 day year, what is Mackenzie's Effective

Assume that its trade credit terms are 1/10, net 40 and Mackenzie pays on day 35. Using a 365 day year, what is Mackenzie's Effective Annual Rate (EAR) cost of trade credit?

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