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(Evaluating trade credit discounts) If a firm buys on trade credit terms of 3/10 net 50, and decides to forgo the trade credit discount and

(Evaluating trade credit discounts) If a firm buys on trade credit terms of 3/10 net 50, and decides to forgo the trade credit discount and pay on the net day, what is the annualised cost of forgoing the discount (assume a 365-day year)?

The annualised cost of the trade credit terms of 3/10, net 50is____%. (Round to two decimal places.)

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