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Assume the credit terms offered to your firm by your suppliers are 4/15, net 45. Calculate the cost of the trade credit if your firm

Assume the credit terms offered to your firm by your suppliers are 4/15, net 45. Calculate the cost of the trade credit if your firm does not take the discount and pays on day 45.

The cost of trade credit is enter your response here%.

(Rounded to two decimal places.)

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