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Assuming a 365-day year, what is the annual cost (%), in 4 decimal places, of forgoing a cash discount under the terms of sale 3/20,

Assuming a 365-day year, what is the annual cost (%), in 4 decimal places, of forgoing a cash discount under the terms of sale 3/20, n/60? Do not enter "%" in your answer. Example: answer = 0.1602982, enter "16.0298" for 16.0298%, leaving out %.

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