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Atlanta Cement, Inc. buys on terms of 3/5, net 15. It does not take discounts, and it typically pays 105 days after the invoice date.
Atlanta Cement, Inc. buys on terms of 3/5, net 15. It does not take discounts, and it typically pays 105 days after the invoice date. Net purchases amount to $720,000 per year. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year?
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