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Cheyenne Corp. purchased merchandise with an invoice price of $ 2400 and credit terms of 3/8, n/30. Assuming a 360 day year, what is the

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Cheyenne Corp. purchased merchandise with an invoice price of $ 2400 and credit terms of 3/8, n/30. Assuming a 360 day year, what is the implied annual interest rate inherent in the credit terms? 32% O 10% O 48% O 3%

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