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Assume the credit terms offered to your firm by your suppliers are 2/10, net 45. Calculate the cost of the trade credit if your firm

Assume the credit terms offered to your firm by your suppliers are 2/10, net 45. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 45. (Hint: Use a 365 -day year)

The cost of trade credit is _____%(Round to two decimal places)

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