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erms of the bank loan are a 16% discount interest rate, and a 15% compensating balance ffective rate on the loan] are the same regardless

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erms of the bank loan are a 16% discount interest rate, and a 15% compensating balance ffective rate on the loan] are the same regardless of how much the firm borrows. Assum mount needed if Stewart does not take discounts on its purchases. We will set up a one-y ash flow relevant to this situation

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