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Essence of Skunk Fragrances, Ltd., sells 8,700 units of its perfume collection each year at a price per unit of $730. All sales are on
Essence of Skunk Fragrances, Ltd., sells 8,700 units of its perfume collection each year at a price per unit of $730. All sales are on credit with terms of 2/15, net 60. The discount is taken by 80 percent of the customers. Calculate the average collection period.
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